By William Gullotti
Buffalo, N.Y., June 9 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due June 1, 2022 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 15.75% if the stock closes above its 80% coupon barrier level on the relevant review date. Any unpaid coupons will also be paid.
If the stock closes above its strike level on any quarterly review date other than the final one, the notes will be automatically called at par plus any contingent interest payment due.
The payout at maturity will be par plus any contingent interest payment due if the final level of the stock closes at or above its trigger price, 80% of its strike price.
Otherwise, investors will be fully exposed to the decline of the stock.
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: | Facebook, Inc.
|
| Amount: | $1,000,000
|
| Maturity: | June 1, 2022
|
| Coupon: | 15.75% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period; any unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if stock finishes above trigger price; otherwise, full exposure to losses of stock
|
| Call: | At par plus interest payment if stock finishes above strike level on quarterly review date other than the final one
|
| Initial level: | $305.26
|
| Coupon barrier level: | $244.208; 80% of strike price
|
| Trigger level: | $244.208; 80% of strike price
|
| Strike date: | May 13
|
| Pricing date: | May 14
|
| Settlement date: | May 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132TW28
|
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