By Susanna Moon
Chicago, April 3 – JPMorgan Chase Financial Co. LLC priced $2.05 million of autocallable contingent interest notes due March 19, 2020 linked to the least performing of the common stocks of Citigroup Inc. and Vertex Pharmaceuticals Inc. and the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 19.75% if each stock closes at or above its 65% coupon barrier on the review date for that quarter.
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 first and final dates.
The payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Citigroup Inc. (Symbol: C), Vertex Pharmaceuticals Inc. (Symbol: VRTX), Facebook Inc. (Symbol: FB)
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| Amount: | $2,048,000
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| Maturity: | March 19, 2020
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| Coupon: | 19.75% annualized, payable quarterly if each stock closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 65% trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than first and final dates
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| Initial levels: | $73.47 for Citigroup, $184.19 for Vertex and $174.38 for Facebook, closing prices of stock on March 14
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| Trigger levels: | $47.7555 for Citigroup, $119.7235 for Vertex and $113.347 for Facebook; 65% of initial levels
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| Strike date: | March 14
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| Pricing date: | March 19
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| Settlement date: | March 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48129MEB8
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