By Marisa Wong
Morgantown, W.Va., Jan. 19 – JPMorgan Chase Financial Co. LLC priced $784,000 of autocallable contingent interest notes due April 17, 2019 linked to Gilead Sciences, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 6.6% if the stock closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial value on any review date other than the first and final dates.
The payout at maturity will be par unless the stock finishes below its 70% trigger value, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Gilead Sciences, Inc. (Symbol: GILD)
|
| Amount: | $784,000
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| Maturity: | April 17, 2019
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| Coupon: | 6.6% annualized, payable each quarter that stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless stock finishes below trigger value, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial value on any quarterly review other than first and final dates
|
| Initial value: | $79.02
|
| Coupon barrier: | $55.314, 70% of initial price
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| Trigger value: | $55.314, 70% of initial price
|
| Pricing date: | Jan. 12
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| Settlement date: | Jan. 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48129HK30
|
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