By Wendy Van Sickle
Columbus, Ohio, April 27 – JPMorgan Chase Financial Co. LLC priced $1.58 million autocallable contingent interest notes due Oct. 30, 2019 linked to the lesser performing of the Dow Jones Industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at a rate of 7% a year if each index closes at or above its interest barrier level, 70% of the initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if both indexes close at or above their initial levels on any review date other than the final one.
If the notes have not been called, the payout at maturity will be par plus the final coupon unless either index closes below the trigger value, 70% of its initial level, on any day during the life of the notes and finishes below its initial level in which case investors will lose 1% for every 1% that the least-performing index declines.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Dow Jones Industrial average and Nasdaq-100 index
|
| Amount: | $1,575,000
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| Maturity: | Oct. 30, 2019
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| Coupon: | 7% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index ends below initial level and ever closes below 70% barrier, in which case 1% loss for each 1% decline of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final date
|
| Initial levels: | 24,083.83 for Dow, 6,513.940 for Nasdaq
|
| Barrier levels: | 16,858.681 for Dow, 4,559.758 for Nasdaq, 70% of initial levels
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| Pricing date: | April 25
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| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.875%
|
| Cusip: | 48129MA71
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