New York, March 13 – JPMorgan Chase Financial Co. LLC priced $1.67 million of autocallable contingent interest notes due March 12, 2020 linked to the least performing of the common stocks of Comerica Inc., Fifth Third Bancorp, and U.S. Bancorp, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.75% if each stock closes at or above its 75% interest 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 quarterly review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 75% trigger level, in which case investors will be 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: | Comerica Inc., Fifth Third Bancorp, and U.S. Bancorp
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| Amount: | $1,665,000
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| Maturity: | March 12, 2020
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| Coupon: | 12.75% annualized, payable quarterly if each stock closes at or above interest barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger, in which case 1% loss for each 1% loss of the worst performing stock
|
| Call: | At par plus the contingent coupon if each stock closes at or above initial level on any quarterly review date other than final date
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| Initial levels: | $100.34 for Comerica, $33.67 for Fifth Third and $53.94 for U.S. Bancorp
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| Interest barrier: | $75.255 for Comerica, $25.2525 for Fifth Third Bancorp and $40.455 for U.S. Bancorp; 75% of initial levels
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| Trigger value: | $75.255 for Comerica, $25.2525 for Fifth Third Bancorp and $40.455 for U.S. Bancorp; 75% of initial levels
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| Pricing date: | March 8
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| Settlement date: | March 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 48129MCR5
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