By William Gullotti
Buffalo, N.Y., June 29 – JPMorgan Chase Financial Co. LLC priced $5.72 million of 0% trigger absolute return autocallable notes due May 25, 2023 linked to the common stock of General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 15% if the shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the stock finishes at or above the 75% downside threshold, the payout at maturity will be par of $10 plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and JPMorgan Financial and JPMorgan Chase & Co. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger absolute return autocallable notes
|
| Underlying stock: | General Motors Co.
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| Amount: | $5,724,000
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| Maturity: | May 25, 2023
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If not called and if stock finishes at or above downside threshold, par plus absolute return; otherwise, 1% loss for each 1% decline from initial level
|
| Call: | At par plus 15% per year if shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $55.51
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| Downside threshold: | $41.63; 75% of initial share price
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| Strike date: | May 20
|
| Pricing date: | May 21
|
| Settlement date: | May 26
|
| Agents: | UBS Financial Services Inc. and JPMorgan Financial and JPMorgan Chase & Co.
|
| Fees: | 1.5%
|
| Cusip: | 46652Y836
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