By Angela McDaniels
Tacoma, Wash., July 30 – JPMorgan Chase Financial Co. LLC priced $1.84 million of autocallable contingent interest notes due May 4, 2021 linked to the least performing of the common stock of Bristol-Myers Squibb Co., the common stock of Gilead Sciences, Inc. and the American Depositary Shares of GlaxoSmithKline plc, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 6.4% per year plus any previously unpaid contingent interest payments if each stock closes at or above its trigger value, 55% of its initial share price, on the review date for that month.
The notes will be automatically called at par if each stock closes at or above its call value on any monthly review date other than the first through third review dates. The call value for each stock is 95% of its initial share price for the fourth through 11th review dates and 90% of its initial share price for the 12th through final review dates.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Bristol-Myers Squibb Co. (Symbol: BMY), Gilead Sciences, Inc. (Symbol: GILD) and GlaxoSmithKline plc (Symbol: GSK)
|
| Amount: | $1,835,000
|
| Maturity: | May 4, 2021
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| Coupon: | 6.4% per year, payable monthly plus any previously unpaid contingent interest payments if each stock closes at or above trigger value on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below trigger value, in which case 1% loss for every 1% that least-performing stock finishes below initial share price
|
| Call: | Automatically at par if each stock closes at or above call value on any monthly review date other than first through third ones; call value for each stock is 95% of initial share price for fourth through 11th review dates and 90% of initial share price for 12th through final review dates
|
| Initial share prices: | $45.40 for Bristol-Myers Squibb, $66.32 for Gilead and $41.54 for GlaxoSmithKline
|
| Trigger values: | $24.97 for Bristol-Myers Squibb, $36.476 for Gilead and $22.847 for GlaxoSmithKline, or 55% of initial share prices
|
| Pricing date: | July 26
|
| Settlement date: | Aug. 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48132CE33
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