By Marisa Wong
Morgantown, W.Va., March 6 – JPMorgan Chase Financial Co. LLC priced $905,000 of autocallable contingent interest notes due March 4, 2020 linked to the lesser performing of the S&P 500 index and the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at a rate of 6% per year if both underlyings close at or above their coupon barriers, 60% of the initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if both underlyings close at or above their respective initial levels on any review date other than the first, second, third and final dates.
If the notes have not been called, the payout at maturity will be par plus the final coupon, if any, unless either underlying finishes below its trigger value, 50% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing underlying finishes below its initial level.
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 contingent interest notes
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| Underlyings: | S&P 500 index, common stock of Wells Fargo & Co. (Symbol: WFC)
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| Amount: | $905,000
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| Maturity: | March 4, 2020
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| Coupon: | 6% per year, payable each quarter that both underlyings close at or above their coupon barriers on the review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon, if any, unless either underlying finishes below its trigger value, in which case 1% loss for every 1% that the lesser performer finishes below its initial level
|
| Call: | Automatically at par plus the contingent coupon if both underlyings close at or above their respective initial levels on any review date other than the first, second, third and final dates
|
| Initial levels: | 2,363.64 for index and $57.88 for stock
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| Coupon barriers: | 1,418.184 for index and $34.728 for stock; 60% of initial levels
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| Trigger values: | 1,181.82 for index and $28.94 for stock; 50% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 46646QLX1
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