By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – JPMorgan Chase Financial Co. LLC priced $1.28 million of contingent income autocallable securities due Oct. 1, 2019 linked to Office Depot, Inc. common shares, 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 quarterly coupon at an annualized rate of 19.2% if Office Depot stock closes at or above its 75% downside threshold level on the observation date for that quarter.
The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above the initial level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below the 75% downside threshold level, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.
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: | Contingent income autocallable securities
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| Underlying stock: | Office Depot, Inc.
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| Amount: | $1,284,000
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| Maturity: | Oct. 1, 2019
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| Coupon: | 19.2% per year, payable quarterly if Office Depot shares close at or above downside threshold level on observation date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
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| Call: | At par plus contingent coupon if Office Depot shares close at or above initial share price on any quarterly determination date other than final determination date
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| Initial share price: | $3.62
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| Downside threshold: | $2.715, 75% of initial share price
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 46646X258
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