By Angela McDaniels
Tacoma, Wash., Nov. 1 – JPMorgan Chase Financial Co. LLC priced $600,000 of autocallable contingent interest notes due May 5, 2022 linked to the common stock of Kohl’s Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9% per year if Kohl’s stock closes at or above the trigger level, 60% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par if the stock closes at or above the call value, 90% of the initial share price, on any review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless the final share price is less than the trigger level, in which case investors will lose 1% for every 1% that the stock declines from 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 stock: | Kohl’s Corp. (Symbol: KSS)
|
| Amount: | $600,000
|
| Maturity: | May 5, 2022
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| Coupon: | 9% per year, payable quarterly if Kohl’s stock closes at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below trigger level, in which case 1% loss for every 1% that stock declines from initial share price
|
| Call: | Automatically at par if stock closes at or above call value, 90% of initial share price, on any quarterly review date other than final one
|
| Initial share price: | $51.62
|
| Trigger level: | $30.972, or 60% of initial share price
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48132F2U9
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