By Susanna Moon
Chicago, July 24 – JPMorgan Chase Financial Co. LLC priced $2.14 million of contingent coupon callable yield notes due July 23, 2020 linked to Intel Corp. stock, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if the stock closes at or above the 75% coupon barrier on the observation date for that quarter.
The notes are callable at par on any contingent interest payment date other than the final date.
The payout at maturity will be par plus unless the stock finishes below its 75% trigger level, 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 underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon callable yield notes
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| Underlying asset: | Intel Corp. (Symbol: INTC)
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| Amount: | $2,136,000
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| Maturity: | July 23, 2020
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| Coupon: | 10.5% annualized, payable quarterly if stock closes at or above 75% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if shares finish at or above 75% trigger; otherwise, par plus stock return with 1% loss per 1% drop
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| Call option: | At par on quarterly review date other than final date
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| Initial level: | $51.72
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| Trigger level: | $38.79, 75% of the initial level
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| Pricing date: | July 18
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| Settlement date: | July 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48129MN85
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