By Sarah Lizee
Olympia, Wash., May 21 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due June 9, 2021 linked to the common stock of Bank of America Corp., 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 trigger price – 67.5% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at an annualized rate of 20% plus any previously unpaid coupons.
If the shares close at or above the initial price on any quarterly review date, the notes will be called at par plus the contingent coupon.
The payout at maturity will be par unless the stock closes below the 67.5% trigger price, in which case investors will be fully exposed to the share price decline.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Bank of America Corp. (Symbol: BAC)
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| Amount: | $250,000
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| Maturity: | June 9, 2021
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| Coupon: | 20%, payable each quarter that stock closes at or above trigger price on review date for that quarter plus any previously unpaid coupons
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless stock closes below trigger price, in which case full exposure to share price decline
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any quarterly review date
|
| Initial level: | $22.93
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| Trigger price: | $15.47775, 67.5% of initial price
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| Pricing date: | May 19
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| Settlement date: | May 22
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| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132KU29
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