By Sarah Lizee
Olympia, Wash., Feb. 25 – JPMorgan Chase Financial Co. LLC priced $2.18 million of autocallable contingent interest notes due March 10, 2020 linked to Freeport-McMoRan Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above the 53% coupon barrier on the observation date for that quarter, plus any previously unpaid contingent coupons.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the final date.
The payout at maturity will be par plus unless the stock finishes below its 53% 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 underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying asset: | Freeport-McMoRan Inc.
|
| Amount: | $2,175,000
|
| Maturity: | March 10, 2020
|
| Coupon: | 10%, payable quarterly if stock closes at or above 53% coupon barrier on review date for that quarter, plus any previously unpaid contingent coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus unless shares finish below 53% trigger level; otherwise, par plus stock return
|
| Call: | At par plus contingent coupon if shares close at or above initial price on quarterly review date other than final date
|
| Initial level: | $13.02
|
| Trigger level: | $6.9006, 53% of the initial level
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48130W2Z3
|
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