By Sarah Lizee
Olympia, Wash., June 24 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Sept. 22, 2020 linked to the common stock of Freeport-McMoRan Inc., 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 coupon barrier, 60% of the initial share price, on a monthly review date, the issuer will pay a contingent coupon for that quarter at the rate of 27.75% per year, plus any previously unpaid coupons.
If the shares close at or above the initial price on any monthly review 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 the 60% 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: | Freeport-McMoRan Inc.
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| Amount: | $1 million
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| Maturity: | Sept. 22, 2020
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| Coupon: | 27.75% per year, payable each month that stock closes at or above coupon barrier on review date for that month, plus any previously unpaid coupons
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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 monthly review date
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| Initial share price: | $10.69
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| Coupon barrier: | $6.414, 60% of initial share price
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| Trigger price: | $6.414, 60% of initial share price
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| Pricing date: | June 18
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| Settlement date: | June 23
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48132MMA6
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