By Marisa Wong
Morgantown, W.Va., April 3 – JPMorgan Chase Financial Co. LLC priced $2.58 million of autocallable contingent interest notes due June 27, 2019 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If Amazon.com stock closes at or above the coupon barrier, 65% of the initial price, on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 8.75% 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 the notes are not called, the payout at maturity will be par plus the final contingent coupon unless Amazon.com shares finish below the initial price and close below the 65% trigger price on any day during the life of the notes, in which case investors will be exposed to the share price decline from the initial price.
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: | Amazon.com, Inc. (Nasdaq: AMZN)
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| Amount: | $2.58 million
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| Maturity: | June 27, 2019
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| Coupon: | 8.75% per year, payable quarterly if stock closes at or above coupon barrier on related quarterly review date
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus the final contingent coupon unless Amazon.com shares finish below the initial price and close below the trigger price on any day during the life of the notes, in which case investors will be exposed to the share price decline from the initial price
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| Call: | Automatically at par plus contingent coupon if Amazon.com shares close at or above initial price on any quarterly review date other than the first and final dates
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| Initial share price: | $1,495.56
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| Coupon barrier: | $972.114, 65% of initial price
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| Trigger price: | $972.114, 65% of initial price
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| Pricing date: | March 23
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| Settlement date: | March 28
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48129MDG8
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