By Kiku Steinfeld
Chicago, March 14 – JPMorgan Chase Financial Co. LLC priced $1.2 million of autocallable contingent interest notes due Sept. 20, 2023 linked to the least performing of the stocks of salesforce.com Inc., Netflix, Inc. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12% if each stock closes at or above its 65% coupon barrier on the review date for that quarter, plus any previously unpaid coupon.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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: | salesforce.com., Netflix, Inc. and Facebook, Inc.
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| Amount: | $1.2 million
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| Maturity: | Sept. 20, 2023
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| Coupon: | 12% annualized, payable quarterly if each stock closes at or above 65% coupon barrier on review date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 65% trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par if each stock closes at or above initial level on any review date other than final date
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| Initial levels: | $373.92 for Facebook, $256.16 for salesforce and $582.87 for Netflix
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| Trigger levels: | $243.048 for Facebook, $166.504 for salesforce and $378.8655 for Netflix; 65% of initial levels
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.9%
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| Cusip: | 48132WUN7
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