By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – JPMorgan Chase Financial Co. LLC priced $1.24 million of autocallable contingent interest notes due May 6, 2021 linked to the common stock of Snap Inc., 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 coupon barrier – 60% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 12% per year.
If the shares close at or above their initial price on any quarterly review date other than the final date, the notes will be called at par plus the contingent coupon.
The payout at maturity will be par plus the final coupon, if any, unless the final share price is less than its 60% trigger price, in which case investors will be exposed to the share price decline from the initial price.
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: | Snap Inc.
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| Amount: | $1,241,000
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| Maturity: | May 6, 2021
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| Coupon: | 12% annualized, payable monthly if stock closes at or above coupon barrier on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any review date other than final date
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| Initial level: | $18.23
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| Coupon barrier level: | $10.938, 60% of initial level
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| Trigger level: | $10.938, 60% of initial level
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 6
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132HYF3
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