By Susanna Moon
Chicago, March 1 – JPMorgan Chase Financial Co. LLC priced $2.29 million of autocallable contingent interest notes due Feb. 27, 2019 linked to Williams Cos., Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 11% if the stock closes at or above its 80% interest barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless the stock finishes below its 80% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
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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| Underlying stock: | Williams Cos., Inc. (Symbol: WMB)
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| Amount: | $2,285,000
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| Maturity: | Feb. 27, 2019
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| Coupon: | 11% annualized, payable quarterly if stock closes at or above 80% interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless stock falls by more than 20%, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly review other than final date
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| Initial share price: | $28.61
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| Trigger level: | $22.888, 80% of initial price
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48129H6E2
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