By Marisa Wong
Morgantown, W.Va., Feb. 15 – JPMorgan Chase Financial Co. LLC priced $1.24 million of autocallable contingent interest notes due Feb. 14, 2019 linked to least performing of the common stocks of Zions Bancorp, East West Bancorp, Inc. and Morgan Stanley, according to a 424B2 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 annual rate of 14.25% if each stock closes at or above the coupon barrier, 70% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above the initial level on any review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses 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 contingent interest notes
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| Underlying stocks: | Zions Bancorp (Symbol: ZION), East West Bancorp, Inc. (Symbol: EWBC) and Morgan Stanley (Symbol: MS)
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| Amount: | $1.24 million
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| Maturity: | Feb. 14, 2019
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| Coupon: | 14.25% annualized, payable each quarter that each stock closes at or above barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below its trigger level, in which case 1% loss for each 1% decline of the worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial share price on any review date other than final date
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| Initial prices: | $43.57 for Zions, $52.65 for East West, $44.70 for Morgan Stanley
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| Barrier/trigger levels: | $30.499 for Zions, $36.855 for East West, $31.29 for Morgan Stanley; 70% of initial prices
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 46646QKT1
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