By Sarah Lizee
Olympia, Wash., April 9 – JPMorgan Chase Financial Co. LLC priced $1 million of 9% yield notes with contingent digital payment due July 10, 2019 linked to the common stock of WageWorks, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
A trigger event will occur if, on any trading day during the life of the notes, the stock ever closes below 61.78841% of its initial price.
If the stock gains, the payout at maturity will be par plus 1%.
If the stock falls but a trigger event has never occurred, the payout will be par.
If the stock falls and a trigger event has occurred, investors will be fully exposed to the decline of the stock from its initial price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Yield notes with contingent digital payment
|
| Underlying stock: | WageWorks, Inc.
|
| Amount: | $1 million
|
| Maturity: | July 10, 2019
|
| Coupon: | 9%, payable monthly; equivalent to a rate of 2.25% over the term of the notes
|
| Price: | Par
|
| Payout at maturity: | If the stock gains, par plus 1%; if the stock falls but a trigger event has never occurred, par; if the stock falls and a trigger event has occurred, full exposure to the decline of the stock from its initial price
|
| Initial value: | $39.70
|
| Trigger value: | $24.53; 61.78841% of the initial price
|
| Pricing date: | April 5
|
| Settlement date: | April 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48132CBG7
|
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