New York, March 15 – JPMorgan Chase Financial Co. LLC priced $11.98 million trigger autocallable contingent yield notes due March 12, 2021 linked to the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 8% if Disney shares close at or above the coupon barrier, 80% of the initial level, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if the stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the 80% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Walt Disney Co. (Symbol: DIS)
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| Amount: | $11,984,500
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| Maturity: | March 12, 2021
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| Coupon: | 8%, payable quarterly if Disney shares close at or above coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Call: | After six months, at par if shares close at or above initial price on any quarterly observation date
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| Payout at maturity: | Par plus final coupon unless stock finishes below downside threshold, in which case 1% loss for every 1% decline
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| Initial price: | $104.73
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| Coupon barrier: | $83.78; 80% of initial level
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| Downside threshold: | $83.78; 80% of initial level
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| Pricing date: | March 9
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| Settlement date: | March 14
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| Underwriters: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 48129L587
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