By Wendy Van Sickle
Columbus, Ohio, March 27 – JPMorgan Chase Financial Co. LLC priced $1.58 million of autocallable contingent interest notes due April 10, 2019 linked to Bristol-Myers Squibb Co. 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 9.1% if the stock closes at or above its 75% 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 level on any review date other than the first and final dates.
The payout at maturity will be par unless the stock finishes below its initial level and ever closes below its 75% trigger level during the life of the notes, 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 agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | Bristol-Myers Squibb Co.
|
| Amount: | $1,575,000
|
| Maturity: | April 10, 2019
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| Coupon: | 9.1% annualized, payable quarterly if stock closes at or above 75% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless stock finishes below initial level and ever closes below trigger, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than first and final dates
|
| Initial level: | $62.06
|
| Trigger level: | $46.545, 75% of initial level
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| Pricing date: | March 23
|
| Settlement date: | March 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48129MEV4
|
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