By Wendy Van Sickle
Columbus, Ohio, July 18 – JPMorgan Chase Financial Co. LLC priced $1 million of 9% yield notes with contingent digital payment due Oct. 18, 2019 linked to the common stock of RH, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The payout at maturity will be par plus 1% unless the shares finish below the $80.17 strike value, in which case investors will receive par unless the shares have closed below the 64.17707% trigger level on any day during the life of the notes. If the shares have closed below the trigger level on any day and finish below their strike value, investors will be fully exposed to any losses.
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: | Yield notes with contingent digital payment
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| Underlying stock: | RH
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| Amount: | $1 million
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| Maturity: | Oct. 18, 2019
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| Coupon: | 9%, payable monthly; equivalent to a rate of 2.25% over the term of the notes
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| Price: | Par
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| Payout at maturity: | Par plus 1% digital return unless stock finishes below its strike value, in which case par if stock has never closed below trigger and full exposure to any losses otherwise
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| Strike value: | $124.92
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| Trigger value: | $80.17, 64.17707% of the strike value
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| Pricing date: | July 16
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| Settlement date: | July 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.1%
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| Cusip: | 48132C5N9
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