New York, May 22 – JPMorgan Chase Financial Co. LLC priced $3 million of callable contingent interest notes due Oct. 23 linked to the common stock of Fidelity National Information Services, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon, equivalent to 6.33333% for the term, if the stock closes at or above the downside threshold, 67.5% of the initial level, on the valuation date for that period. The first coupon, if payable, will pay at a rate of $38 per $1,000 principal amount. The final, if payable, will be $25.3333 per note.
The securities may be called at par on any determination date.
If the stock finishes at or above its 67.5% downside threshold, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the stock declines from its initial level.
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: | Callable contingent interest notes
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| Underlying stock: | Fidelity National Information Services, Inc.
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| Amount: | $3 million
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| Maturity: | Oct. 23, 2023
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| Coupon: | 6.33333% for the term, payable quarterly if closing price of shares is greater than or equal to downside threshold on valuation date for that period; first coupon will pay $38 per note with the final coupon worth $25.3333
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that stock declines from initial level
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| Call option: | At par on any determination date
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| Initial level: | $54.91
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| Downside threshold: | $37.06425, 67.5% of initial level
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| Pricing date: | May 16
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| Settlement date: | May 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133WQS0
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