By Wendy Van Sickle
Columbus, Ohio, Aug. 29 – JPMorgan Chase Financial Co. LLC priced $5.64 million of 0% trigger absolute return autocallable notes due Aug. 27, 2020 linked to Royal Caribbean Cruises Ltd. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 12.4% if the shares close at or above the initial share price on any quarterly observation date.
If the stock finishes at or above the 75% downside threshold, the payout at maturity will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and J.P. Morgan Securities LLC Inc. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger absolute return autocallable notes
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| Underlying stock: | Royal Caribbean Cruises Ltd.
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| Amount: | $5,643,000
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| Maturity: | Aug. 27, 2020
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| Coupon: | 0%
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| Price: | Par of $10.00
|
| Payout at maturity: | If stock finishes at or above downside threshold, par plus absolute return; otherwise, 1% loss for each 1% decline
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| Call: | At par plus 12.4% per year if shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $119.71
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| Downside threshold: | $89.78, or 75% of initial share price
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 28
|
| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1%
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| Cusip: | 48130V889
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