By Wendy Van Sickle
Columbus, Ohio, Jan. 5 – JPMorgan Chase Financial Co. LLC priced $3 million of 0% autocallable securities due Jan. 3, 2020 linked to the American Depositary Shares of GW Pharmaceuticals plc, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus an early redemption premium of 10.15% per year if the stock closes at or above 90% of its initial price on any quarterly determination date.
If the notes have not been called and the final share price is at least 90% of the initial price, the payout at maturity will be par plus a return of 10.15% per year, or $13.045 per $10 principal amount. Otherwise, investors will be fully exposed to the share price decline.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable securities
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| Underlying stock: | GW Pharmaceuticals plc
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| Amount: | $3 million
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| Maturity: | Jan. 3, 2020
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus 30.5% if stock finishes at or above 90% of initial level; otherwise full exposure to any losses
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| Call: | At par plus early redemption premium of 10.15% per year if tock closes at or above 90% of initial price on any quarterly determination date
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| Initial share price: | $111.43
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 4
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| Agents: | J.P. Morgan Securities LLC
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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 48128P399
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