By Susanna Moon
Chicago, May 3 – JPMorgan Chase Financial Co. LLC priced $900,000 of contingent income autocallable securities due Oct. 31, 2019 linked to the worst performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.4% if each index closes at or above the 75% coupon barrier on the determination date that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination dates other than the final date.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | S&P 500 and Euro Stoxx 50
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| Amount: | $900,000
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| Maturity: | Oct. 31, 2019
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| Coupon: | 7.4% annualized for each quarter that each index closes at or above coupon barrier on observation date for quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each index finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par plus contingent payment if each index closes at or above initial level on any quarterly determination dates other than final date
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| Initial levels: | 2,387.45 for S&P and 3,578.71 for Stoxx
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| Coupon barriers: | 1,790.5875 for S&P and 2,684.0325 for Stoxx, 75% of initial levels
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| Downside thresholds: | 1,671.215 for S&P and 2,505.097 for Stoxx, 70% of initial levels
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| Pricing date: | April 26
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| Settlement date: | May 2
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 1.85%
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| Cusip: | 46646Q6X8
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