By Marisa Wong
Morgantown, W.Va., April 24 – JPMorgan Chase Financial Co. LLC priced $865,000 of autocallable contingent interest notes due April 16, 2020 linked to the common stocks of Lockheed Martin Corp., Northrop Grumman Corp. and Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8% if each stock closes at or above its coupon barrier, 60% of its initial price, 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 price on any review date other than the first and final dates.
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.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Lockheed Martin Corp. (Symbol: LMT), Northrop Grumman Corp. (Symbol: NOC) and Boeing Co. (Symbol: BA)
|
| Amount: | $865,000
|
| Maturity: | April 16, 2020
|
| Issue price: | Par
|
| Coupon: | 8% annualized, payable each quarter that each stock closes at or above coupon barrier on review date for that quarter
|
| Payout at maturity: | Par unless any stock finishes below trigger, in which case full exposure to any losses of least performing sock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than first and final dates
|
| Initial level: | $268.00 for Lockheed, $240.20 for Northrop, $175.62 for Boeing
|
| Coupon barriers/triggers: | $160.80 for Lockheed, $144.12 for Northrop, $105.372 for Boeing; 60% of initial prices
|
| Pricing date: | April 13
|
| Settlement date: | April 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.55%
|
| Cusip: | 46646QPN9
|
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