By Sarah Lizee
Olympia, Wash., Sept. 6 – JPMorgan Chase Financial Co. LLC priced $700,000 of autocallable contingent interest notes due March 3, 2022 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
If GE stock closes at or above the trigger level, 50% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon at the rate of 10.5% per year.
The notes will be automatically called at par if the stock closes at or above 90% of the initial share price on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless the stock finishes below the trigger level, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | General Electric Co
|
| Amount: | $700,000
|
| Maturity: | March 3, 2022
|
| Coupon: | 10.5% per year, payable quarterly if GE stock closes at or above trigger value on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below trigger level, in which case 1% loss for every 1% that stock finishes below initial share price
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above 90% of initial share price on any quarterly review date other than final one
|
| Initial share price: | $8.11
|
| Trigger level: | $4.055, 50% of initial share price
|
| Pricing date: | Aug. 29
|
| Settlement date: | Sept. 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48132FHG4
|
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