By Wendy Van Sickle
Columbus, Ohio, Oct. 30 – JPMorgan Chase Financial Co. LLC priced $1.75 million of autocallable contingent interest notes due Oct. 29, 2020 linked to the least performing of the common stocks of Apple Inc., Citigroup Inc. and Merck & Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 8.6% if each stock closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 stocks: | Apple Inc., Citigroup Inc. and Merck & Co., Inc.
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| Amount: | $1,745,000
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| Maturity: | Oct. 29, 2020
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| Coupon: | 8.6% annualized, payable monthly if each stock closes at or above 60% coupon barrier on review date that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any stock finishes below trigger, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than final date
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| Initial levels: | $73.62 for Citigroup, $156.41 for Apple and $62.45 for Merck
|
| Barrier/trigger levels: | $44.172 for Citigroup, $93.846 for Apple and $37.47 for Merck; 60% of initial levels
|
| Pricing date: | Oct. 25
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| Settlement date: | Nov. 1
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.16017%
|
| Cusip: | 48129HGM3
|
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