By William Gullotti
Buffalo, N.Y., July 15 – JPMorgan Chase Financial Co. LLC priced $309,000 of trigger autocallable contingent yield notes due July 14, 2027 linked to the common stock of Honeywell International Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at the rate of 8% per year if the stock close at or above the coupon barrier, 60.5% of the initial share price, on the corresponding observation date.
The notes will be automatically called at par plus coupon if the stock close at or above the initial share price on any monthly observation date after one year.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 60.5% of the initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
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: | Honeywell International Inc.
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| Amount: | $309,000
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| Maturity: | July 14, 2027
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| Contingent coupon: | 8% annual rate, payable monthly if stock closes at or above coupon barrier level on related observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus the final coupon unless stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial price
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| Call: | Automatically at par plus coupon if stock closes at or above initial level on any monthly observation date after one year
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| Initial price: | $173.34
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| Coupon barrier/threshold level: | $104.87; 60.5% of initial price
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| Pricing date: | July 8
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| Settlement date: | July 13
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133E330
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