By Sarah Lizee
Olympia, Wash., May 29 – JPMorgan Chase Financial Co. LLC priced $1.48 million of autocallable contingent interest notes due Aug. 27, 2020 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.15% if Amazon stock closes at or above the trigger value, 77% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par if Amazon stock closes at or above the initial share price on any quarterly review other than the first and final review dates.
The payout at maturity will be par unless Amazon stock finishes below the trigger level, in which case investors will be fully exposed to the stock’s decline from its initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Amazon.com, Inc. (Symbol: AMZN)
|
| Amount: | $1,477,000
|
| Maturity: | Aug. 27, 2020
|
| Coupon: | 8.15%, payable quarterly if stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below trigger level, in which case exposure to decline of stock from initial share price
|
| Call: | Automatically at par if stock closes at or above initial share price on any quarterly review date other than first and final ones
|
| Initial share price: | $1,815.48
|
| Trigger value: | $1,397.9196, or 77% of initial share price
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132CB28
|
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