By Wendy Van Sickle
Columbus, Ohio, Oct. 18 – JPMorgan Chase Financial Co. LLC priced $1.84 million of autocallable contingent interest notes due Jan. 9, 2020 linked Alibaba Group Holding Ltd. 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 8.95% if the stock closes at or above the 65% coupon barrier on the observation date for that quarter, in which case a coupon will also be paid for any previous quarter for which no coupon was paid.
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 first and final dates.
The payout at maturity will be par plus unless the stock finishes below its initial level and ever closes below the 65% 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying asset: | Alibaba Group Holding Ltd.
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| Amount: | $1,844,000
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| Maturity: | Jan. 9, 2020
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| Coupon: | 8.95%, payable quarterly if stock closes at or above 65% coupon barrier on review date for that quarter in which case coupon will also be paid for any previous quarter for which coupon was not paid
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| Price: | Par
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| Payout at maturity: | Par plus unless shares finish below initial level and ever close below 65% trigger level; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if shares close at or above initial price on quarterly review date other than first and final dates
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| Initial level: | $154.63
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| Trigger level: | $100.5095, 65% of the initial level
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| Pricing date: | Oct. 5
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| Settlement date: | Oct. 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48130UMK8
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