By Wendy Van Sickle
Columbus, Ohio, July 11 – JPMorgan Chase Financial Co. LLC priced $2.45 million of autocallable contingent interest notes due July 17, 2019 linked to the common stock of General Motors Co., 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 interest barrier – 80% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 13% per year, plus a coupon for any previous quarter for which no coupon was paid.
If the shares close at or above the initial price on any review date, other than the final date, the notes will be called at par plus the contingent coupon.
If the notes are not called and the shares finish at or above its 80% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
| 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: | General Motors Co.
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| Amount: | $2,448,000
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| Maturity: | July 17, 2019
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| Coupon: | 13%, payable each quarter that stock closes at or above interest barrier on review date, in which case a coupon will also be paid for any previous quarter for which no coupon was paid
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any review date other than final date
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| Initial stock price: | $41.01
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| Interest barrier/trigger: | $32.808, 80% of initial price
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| Pricing date: | June 26
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| Settlement date: | June 29
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
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| Cusip: | 48129M5Q5
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