By Wendy Van Sickle
Columbus, Ohio, May 14 – JPMorgan Chase Financial Co. LLC priced $984,000 of contingent coupon callable yield notes due May 7, 2020 linked to the common shares of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 10% if the contract price closes above its 65% coupon barrier on the observation date for that quarter.
The notes may be called on any contingent interest payment date other than the first and final dates.
If the notes are not called, the payout at maturity will be par unless the final contract price is below its 65% trigger value, in which case investors will be fully exposed to the decline.
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: | Contingent coupon callable yield notes
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Underlying asset: | WTI Crude Oil Futures Contract
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Amount: | $984,000
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Maturity: | May 7, 2020
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Coupon: | 10% per year, payable quarterly if contract price close at or above the coupon barrier on quarterly determination date
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Price: | Par of $10
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Payout at maturity: | If final contract price is greater than or equal to downside threshold, par plus final contingent coupon; otherwise, 1% loss for every 1% that final price is less than initial share price
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Call: | Callable on any interest payment date other than first and final determination dates
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Initial price: | $69.72
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Coupon barrier/trigger: | $45.318, 65% of initial price
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Pricing date: | May 4
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Settlement date: | May 9
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 48129MRQ8
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