By Sarah Lizee
Olympia, Wash., March 26 – JPMorgan Chase Financial Co. LLC priced $2.34 million of autocallable contingent interest notes due June 25, 2020 linked to American Airlines Group Inc. stock, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.55% if the stock closes at or above the 55% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the first and final dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its initial level and ever closes below the 55% trigger level during the life of the notes, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying asset: | American Airlines Group Inc. (Symbol: AAL)
|
| Amount: | $2,345,000
|
| Maturity: | June 25, 2020
|
| Coupon: | 8.55%, payable quarterly if stock closes at or above 55% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless the stock finishes below its initial level and ever closes below the 55% trigger level during the life of the notes, in which case investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon if shares close at or above initial price on quarterly review date other than first and final dates
|
| Initial level: | $30.57
|
| Trigger level: | $16.8135, 55% of the initial level
|
| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48130WD73
|
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