By Susanna Moon
Chicago, May 9 – JPMorgan Chase Financial Co. LLC priced $400,000 of autocallable contingent interest notes due May 15, 2019 linked to Devon Energy Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.15% if the stock closes at or above the 67% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the final date.
The payout at maturity will be par plus unless the stock finishes below its 67% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Devon Energy Corp. (NYSE: DVN)
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| Amount: | $5,315,000
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| Maturity: | May 15, 2019
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| Coupon: | 14.15%, payable quarterly if stock closes at or above 67% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if shares finish at or above 67% trigger level; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if shares close at or above initial price on quarterly review date other than final date
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| Initial share price: | $35.75
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| Trigger price: | $23.9525, 67% of initial price
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| Pricing date: | April 27
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| Settlement date: | May 2
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48129MC20
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