By Wendy Van Sickle
Columbus, Ohio, March 3 – JPMorgan Chase Financial Co. LLC priced $1.55 million of 8% autocallable yield notes due Aug. 28, 2019 linked to the least performing of the common stocks of Kansas City Southern, Union Pacific Corp., CSX Corp. and Norfolk Southern Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par plus the coupon if each stock closes at or above its initial price on any quarterly review date other than the final one.
The payout at maturity will be par unless any stock finishes below its 60% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Kansas City Southern, Union Pacific Corp., CSX Corp. and Norfolk Southern Corp.
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| Amount: | $1.55 million
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| Maturity: | Aug. 28, 2019
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| Coupon: | 8%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger value, in which case 1% loss for each 1% decline in share price of worst-performing stock
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| Call: | Automatically at par plus coupon if closing share price of each stock is greater than or equal to initial share price on any quarterly review date other than the final one
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| Initial share prices: | $87.41 for Kansas City; $106.70 for Union Pacific; $47.91 for CSX; $120.03 for Norfolk
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| Trigger prices: | $52.446 for Kansas City; $64.02 for Union Pacific; $28.746 for CSX; $72.018 for Norfolk, 60% of initial share prices
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.65%
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| Cusip: | 46646QLK9
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