By Marisa Wong
Morgantown, W.Va., April 2 – JPMorgan Chase Financial Co. LLC priced $2.16 million of autocallable contingent interest notes due June 27, 2019 linked to the common stock of AbbVie Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If AbbVie stock closes at or above the 65% coupon barrier on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 8% per year. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on any quarterly review date other than the first and final dates, the notes will be called at par plus the contingent coupon.
If AbbVie shares finish at or above the 65% trigger value, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | AbbVie Inc. (NYSE: ABBV)
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| Amount: | $2.16 million
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| Maturity: | June 27, 2019
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| Coupon: | 8% per year, payable quarterly if stock closes at or above coupon barrier on quarterly review date
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if AbbVie shares finish at or above trigger value; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if AbbVie shares close at or above initial price on any quarterly review date other than first and final dates
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| Review dates: | June 25, Sept. 24, Dec. 24, 2018, March 25, 2019 and June 24, 2019
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| Initial price: | $97.46
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| Coupon barrier: | $63.349, 65% of initial price
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| Trigger value: | $63.349, 65% of initial price
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| Pricing date: | March 23
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| Settlement date: | March 28
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48129MCE4
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