By Marisa Wong
Morgantown, W.Va., March 6 – JPMorgan Chase Financial Co. LLC priced $2.1 million of 10.5% autocallable yield notes due Feb. 28, 2019 linked to the least performing of the common stocks of Valero Energy Corp., Chevron Corp. and Marathon Oil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable quarterly.
The notes will be called at par plus the coupon if each stock closes at or above its initial price on any quarterly review date other than the final one.
The payout at maturity will be par unless any stock finishes below its 50% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing stock.
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: | Autocallable yield notes
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| Underlying stocks: | Valero Energy Corp. (Symbol: VLO), Chevron Corp. (Symbol: CVX) and Marathon Oil Corp. (Symbol: MRO)
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| Amount: | $2.1 million
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| Maturity: | Feb. 28, 2019
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| Coupon: | 10.5%, payable quarterly
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any stock finishes below its trigger value, in which case 1% loss for each 1% decline of the worst performing stock
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| Call: | At par plus the coupon if each stock closes at or above its initial price on any quarterly review date other than the final one
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| Initial values: | $66.72 for Valero, $110.12 for Chevron, $15.73 for Marathon
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| Trigger values: | $33.36 for Valero, $55.06 for Chevron, $7.865 for Marathon; 50% of initial values
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| Pricing date: | Feb. 24
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 46646QLH6
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