By Marisa Wong
Morgantown, W.Va., June 2 – JPMorgan Chase Financial Co. LLC priced $1.46 million of autocallable contingent interest notes due May 31, 2019 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If Apple stock closes at or above the trigger price – 70% of the initial share price – on a monthly review date, the issuer will pay a contingent coupon for that month at the rate of 8%. Otherwise, no coupon will be paid that month.
If the shares close at or above the initial price on any quarterly autocall review date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Apple shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $1,455,000
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| Maturity: | May 31, 2019
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| Coupon: | 8%, payable monthly if stock closes at or above trigger price on review date for that month
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if Apple shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Apple shares close at or above initial price on a quarterly review date
|
| Initial share price: | $99.62
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| Trigger price: | $69.734, 70% of initial price
|
| Pricing date: | May 25
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| Settlement date: | May 31
|
| Underwriters: | J.P. Morgan Securities LLC
|
| Fees: | 3.06%
|
| Cusip: | 46646EDF6
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