By Susanna Moon
Chicago, April 2 – JPMorgan Chase Financial Co. LLC priced $1.57 million of autocallable contingent interest notes due March 19, 2020 linked to the least performing of the common stocks of Apple Inc. and Kroger Co. and the class C capital stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each stock closes at or above its 65% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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 contingent interest notes
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| Underlying stocks: | Apple Inc. (Symbol: AAPL), Alphabet Inc. (Symbol: GOOG), Microsoft Corp. (Symbol: MSFT)
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| Amount: | $1,565,000
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| Maturity: | March 19, 2020
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| Coupon: | 8% annualized, payable quarterly if each stock closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than final date
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| Initial levels: | $178.02 for Apple, $1,135.73 for Alphabet and $94.60 for Microsoft
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| Coupon barriers: | $115.713 for Apple, $738.2245 for Alphabet and $61.49 for Microsoft; 65% of initial levels
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| Trigger levels: | $106.812 for Apple, $681.438 for Alphabet and $56.76 for Microsoft; 60% of initial levels
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48129MEC6
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