By Angela McDaniels
Tacoma, Wash., May 26 – JPMorgan Chase Financial Co. LLC priced $6.29 million of contingent income callable securities due May 30, 2019 linked to the worst performing of the common stocks of Pioneer Natural Resources Co., Concho Resources Inc. and Diamondback Energy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 12.5% if each stock closes at or above its downside threshold price, 60% of its initial share price, on each day during that quarter.
The notes are callable at par on any quarterly determination date other than the first and final ones.
If each stock finishes at or above its downside threshold price, the payout at maturity will be par plus the final contingent coupon. If the final share price of any stock is less than its downside threshold price, investors will be fully exposed to the decline of the least-performing stock.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income callable securities
|
| Underlying stocks: | Pioneer Natural Resources Co., Concho Resources Inc. and Diamondback Energy, Inc.
|
| Amount: | $6,286,000
|
| Maturity: | May 30, 2019
|
| Coupon: | 12.5% per year, payable quarterly if each stock closes at or above downside threshold price on each day during that quarter
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above downside threshold price, par plus final contingent coupon; if final share price of any stock is less than downside threshold price, full exposure to decline of lowest-performing stock
|
| Call option: | At par on any quarterly determination date other than first and final ones
|
| Initial share prices: | $173.66 for Pioneer, $131.00 for Concho and $99.37 for Diamondback
|
| Downside thresholds: | $104.196 for Pioneer, $78.60 for Concho and $59.622 for Diamondback; 60% of initial share prices
|
| Pricing date: | May 24
|
| Settlement date: | May 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 46647MKL6
|
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