By Tali Rackner
Minneapolis, July 11 – JPMorgan Chase Financial Co. LLC priced $3.81 million of autocallable contingent interest notes due July 31, 2019 linked to the common stock of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above the interest barrier – 70% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 12.5% per year.
If the shares close at or above the initial price on any review date, other than the final date, the notes will be called at par plus the contingent coupon.
If the notes are not called and the shares finish at or above its 70% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
| 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: | Wynn Resorts, Ltd.
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| Amount: | $3.81 million
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| Maturity: | July 31, 2019
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| Coupon: | 12.5%, payable each quarter that stock closes at or above interest barrier on review date
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any review date other than final date
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| Initial stock price: | $160.13
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| Interest barrier/trigger: | $112.091, 70% of initial price
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| Pricing date: | July 9
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| Settlement date: | July 12
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48129ML20
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