By Wendy Van Sickle
Columbus, Ohio, Nov. 21 – JPMorgan Chase Financial Co. LLC priced $1.83 million of contingent income autocallable securities due Nov. 21, 2019 linked to General Motors Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above the 70% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
| 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 Motors Co.
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| Amount: | $1,832,510
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| Maturity: | Nov. 21, 2019
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| Coupon: | 10% annualized, payable each quarter if stock closes at or above downside threshold level on determination date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes above downside threshold, par; otherwise, full exposure to decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any determination date other than the final date
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| Initial share price: | $35.75
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| Downside threshold: | $25.025, 70% of initial level
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 21
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 1.75%
|
| Cusip: | 48130V392
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