By Sarah Lizee
Olympia, Wash., Jan. 14 – JPMorgan Chase Financial Co. LLC priced $880,000 of autocallable contingent interest notes due April 15, 2021 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 10.15% per year if the stock closes at or above the trigger value, 70% of its initial share price, on the review date for that month.
The notes will be automatically called at par if the stock closes at or above its initial share price on any review date other than the first, second, third, fourth, fifth and final review dates.
If the notes have not been called, the payout at maturity will be par unless the stock finishes below the initial level and has ever closed below its trigger value on any day during the life of the notes, in which case investors will be exposed to the stock’s decline from its initial share price.
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 stock: | Facebook, Inc.
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| Amount: | $880,000
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| Maturity: | April 15, 2021
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| Coupon: | 10.15% per year, payable monthly if stock closes at or above trigger value on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below the initial level and has ever closed below its trigger value on any day during the life of the notes, in which case investors will be exposed to the stock’s decline from its initial share price
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than first, second, third, fourth, fifth and final review dates
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| Initial share price: | $218.06
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| Trigger value: | $152.642, or 70% of initial share price
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48132HLM2
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