By Wendy Van Sickle
Columbus, Ohio, Dec. 28 – JPMorgan Chase Financial Co. LLC priced $11.86 million of contingent income autocallable securities due Dec. 28, 2020 linked to General Electric Co. common shares, 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 downside threshold level of $13.125 on a quarterly determination date, the notes will pay a contingent payment of 2% for that quarter.
If the stock closes at or above its initial price on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
If the stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The agent is J.P. Morgan Securities LLC.
| 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 stock: | General Electric Co.
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| Amount: | $11,856,510
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| Maturity: | Dec. 28, 2020
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| Contingent payment: | 8%, payable quarterly if stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if stock finishes at or above downside threshold; otherwise full exposure to any losses
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| Call: | At par plus contingent payment if stock closes at or above initial share price on any determination date
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| Initial share price: | $17.50
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| Downside threshold: | $13.125, 75% of initial price
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| Pricing date: | Dec. 22
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| Settlement date: | Dec. 28
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| Agents: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC as distributor
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| Fees: | 2.5%
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| Cusip: | 48129K548
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