By Susanna Moon
Chicago, April 19 – JPMorgan Chase Financial Co. LLC priced $1.86 million of trigger callable contingent yield notes due April 16, 2021 linked to Halliburton Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 8% if the stock closes at or above its 63% coupon barrier on the observation date for that quarter.
The notes will be called if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the stock finishes below its 63% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Halliburton Co. (Symbol: HAL)
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| Amount: | $1,863,500
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| Maturity: | April 16, 2021
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| Coupon: | 8% annualized, payable quarterly if stock closes at or above its 63% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss per 1% decline
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| Call: | At par if stock closes at or above its initial level on each quarterly observation date beginning Oct. 15, 2018
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| Initial level: | $50.78
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| Downside threshold: | $31.99, 63% of initial level
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| Pricing date: | April 13
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| Settlement date: | April 18
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48129L165
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