By Sarah Lizee
Olympia, Wash., June 4 – JPMorgan Chase Financial Co. LLC priced $1.45 million of autocallable contingent interest notes due June 12, 2020 linked to the common stock of Nvidia Corp., 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 10% if Nvidia stock closes at or above the buffer value, 70% of the initial share price, on the review date for that quarter, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be automatically called at par if Nvidia 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 Nvidia stock finishes below the buffer level, in which case investors will lose 1.42857% for every 1% decline of the stock beyond 30%.
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: | Nvidia Corp. (Symbol: NVDA)
|
| Amount: | $1.45 million
|
| Maturity: | June 12, 2020
|
| Coupon: | 10%, payable quarterly if stock closes at or above buffer value on review date for that quarter, plus coupon for any previously unpaid quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below buffer level, in which case investors will lose 1.42857% for every 1% decline of the stock beyond 30%
|
| 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: | $144.9653
|
| Buffer value: | $101.4757, or 70% of initial share price
|
| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132CPB3
|
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