By Susanna Moon
Chicago, Aug. 1 – JPMorgan Chase Financial Co. LLC priced $6.2 million of autocallable contingent interest notes due July 31, 2019 linked to the least performing of the class B common stock of Berkshire Hathaway, Inc. and the common stocks of Aetna Inc. and MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 10% if each stock closes at or above its 55% coupon barrier level on a review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first, second and final review dates.
The payout at maturity will be par plus the final coupon unless any stock closes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Berkshire Hathaway, Inc. (Symbol: BRK/B), Aetna Inc. (Symbol: AET) and MetLife, Inc. (Symbol: MET)
|
| Amount: | $6.2 million
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| Maturity: | July 31, 2019
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| Coupon: | 10% annualized, payable monthly if each stock closes at or above 55% coupon barrier on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below trigger level, in which case full exposure to decline of least performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial price on any review date other than the first, second and final review dates
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| Initial share prices: | $144.34 for Berkshire, $117.25 for Aetna and $43.29 for MetLife
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| Barrier/trigger prices: | $79.387 for Berkshire, $64.4875 for Aetna and $23.8095 for MetLife; 55% of initial prices
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| Pricing date: | July 26
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| Settlement date: | July 29
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 3.551%
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| Cusip: | 46646EPZ9
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