By Sarah Lizee
Olympia, Wash., May 20 – JPMorgan Chase Financial Co. LLC priced $1 million of yield notes due Aug. 21, 2019 linked to the common stock of Acacia Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The three-month notes pay 2.25% interest over the term of the notes at the rate of 0.75% per month, which is equivalent to 9% per year.
A trigger event will occur if on any day during the life of the notes the stock closes below its trigger level, 63.56324% of its strike value.
If the final value is greater than or equal to the strike value or a trigger event has not occurred, the payout at maturity will be par.
If the final value is less than the strike value and a trigger event has occurred, the payout will be par plus the stock return with exposure to the loss.
The strike value, $49.73, was determined by the calculation agent based on certain intraday trades in Acacia stock that occurred on the pricing date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Yield notes
|
| Underling stock: | Acacia Communications, Inc. (Symbol: ACIA)
|
| Amount: | $1 million
|
| Maturity: | Aug. 21, 2019
|
| Coupon: | 9% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If the final value is greater than or equal to the strike value or a trigger event has not occurred, par; if the final value is less than the strike value and a trigger event has occurred, par plus the stock return with exposure to the loss
|
| Trigger event: | Occurs if on any day during the life of the notes the stock closes below its trigger level
|
| Strike value: | $49.73
|
| Trigger value: | $31.61, 63.56324% of its strike value
|
| Pricing date: | May 16
|
| Settlement date: | May 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.9%
|
| Cusip: | 48132CB36
|
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