By Angela McDaniels
Tacoma, Wash., July 22 – JPMorgan Chase Financial Co. LLC priced a $15,000 add-on to its autocallable contingent interest notes due June 30, 2022 linked to the lesser performing of the common stocks of Masco Corp. and Owens Corning, according to a 424B2 filing with the Securities and Exchange Commission.
As previously reported, the company priced $1.48 million of the notes June 26. The issue size is now $1.49 million.
Each quarter, the notes pay a contingent coupon at an annual rate of 10.7% if each stock closes at or above its trigger value, 55% of its initial share price, on the review date for that quarter.
The notes will be called at par if each stock closes at or above its initial share price on any review date other than the first and final review dates.
The payout at maturity will be par unless either stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the lesser-performing stock.
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 stocks: | Masco Corp. (Symbol: MAS) and Owens Corning (Symbol: OC)
|
| Amount: | $1,491,000
|
| Maturity: | June 30, 2022
|
| Coupon: | 10.7% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of lesser-performing stock from initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any review date other than first and final review dates
|
| Initial share prices: | $38.89 for Masco and $54.60 for Owens
|
| Trigger values: | $21.3895 for Masco and $30.03 for Owens; 55% of initial share prices
|
| Pricing dates: | June 26 for original $1,476,000 and July 18 for $15,000 reopening
|
| Settlement dates: | June 28 for original issue and July 23 for reopening
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.62433%
|
| Cusip: | 48132CWD1
|
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