By Wendy Van Sickle
Columbus, Ohio, March 14 – JPMorgan Chase Financial Co. LLC priced $4.76 million of contingent income autocallable securities due March 12, 2021 linked to the class A 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 will pay a contingent quarterly coupon at an annualized rate of 8.5% if Facebook stock closes at or above its 75% downside threshold level on the determination date for that quarter.
The notes will be redeemed at par of $10 plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below the 75% downside threshold level, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Facebook, Inc.
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| Amount: | $4,757,770
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| Maturity: | March 12, 2021
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| Coupon: | 8.5% annualized, payable quarterly if stock closes at or above downside threshold on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above barrier, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par if stock closes at or above initial level on any determination date other than the final date
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| Initial price: | $185.23
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| Downside threshold: | $138.9225, 75% of initial level
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| Pricing date: | March 9
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| Settlement date: | March14
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC handling distribution
|
| Fees: | 2.5%
|
| Cusip: | 48129L645
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