By Wendy Van Sickle
Columbus, Ohio, May 21 – JPMorgan Chase Financial Co. LLC priced $640,000 of autocallable contingent interest notes due May 21, 2020 linked to the least performing of the common stock of Pioneer Natural Resources Co., the class A common stock of Parsley Energy, Inc. and the American depositary shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.8% if each stock closes at or above its 60% coupon barrier 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 its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | Parsley Energy, Inc., Pioneer Natural Resources Co. and Alibaba Group Holding Ltd. (Symbol: BABA)
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Amount: | $640,000
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Maturity: | May 21, 2020
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Coupon: | 14.8% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
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Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than first and final dates
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Initial levels: | $212.31 for Pioneer, $32.14 for Parsley and $196.02 for Alibaba
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Trigger levels: | $127.386 for Pioneer, $19.284 for Parsley and $117.612 for Alibaba, 60% of initial levels
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Pricing date: | May 17
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Settlement date: | May 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.15%
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Cusip: | 48129MUB0
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