By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – JPMorgan Chase Financial Co. LLC priced $8.9 million of contingent income autocallable securities due Aug. 8, 2019 linked to Netflix, Inc. and Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 13.4% if each stock closes at or above the 65% downside threshold on the review date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if each stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless either stock finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses of the lesser performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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 stocks: | Netflix, Inc. and Facebook, Inc.
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| Amount: | $8,902,290
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| Maturity: | Aug. 8, 2019
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| Coupon: | 13.4% annualized, payable quarterly if each stock closes at or above barrier on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above barrier, par; otherwise, 1% loss for each 1% decline of lesser performing tock
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| Call: | At par if each stock closes at or above initial level on any determination date other than the final date
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| Initial levels: | $343.09 for Netflix, $117.78 for Facebook
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| Downside thresholds: | $223.0085 for Netflix, $115.557 for Facebook, 65% of initial levels
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| Pricing date: | Aug. 3
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| Settlement date: | Aug. 8
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC handling distribution
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| Fees: | 1.75%
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| Cusip: | 48129N245
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