By Wendy Van Sickle
Columbus, Ohio, July 29 – JPMorgan Chase Financial Co. LLC priced $1 million of yield notes due Sept. 8, 2021 linked to the shares of Overstock.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay interest monthly at the rate of 9% per year, or 2.25% over the term of the notes.
The payout at maturity will be par unless the stock finishes below its trigger level, 58.4946% of its initial level, in which case investors will lose 1% for every 1% stock decline below the initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Yield notes
|
| Underlying stock: | Overstock.com, Inc.
|
| Amount: | $1 million
|
| Maturity: | Sept. 8, 2021
|
| Coupon: | 9% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below its trigger level, in which case full exposure to losses
|
| Initial level: | $93.53
|
| Trigger level: | $54.71, 58.4946% of initial level
|
| Pricing date: | June 2
|
| Settlement date: | June 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.35%
|
| Cusip: | 48132UKY8
|
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