By Devika Patel
Knoxville, Tenn., April 26 – JPMorgan Chase Financial Co. LLC priced $5.06 million autocallable contingent interest notes due April 29, 2020 linked to the least performing of the common stocks of Starbucks Corp., Mondelez International, Inc. and Kraft Heinz Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at an annual rate of 9% if each stock closes at or above its 60% barrier level on the review date for that month.
Beginning on Oct. 24, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
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: | Starbucks Corp. (Symbol: SBUX), Mondelez International, Inc. (Symbol: MDLZ), Kraft Heinz Co. (Symbol: KHC)
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| Amount: | $5.06 million
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| Maturity: | April 29, 2020
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| Coupon: | 9%, payable monthly if each stock closes at or above barrier level on monthly review date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below barrier level, in which case 1% loss for each 1% decline of least performing stock
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above strike price on any quarterly review date other than the final one, beginning Oct. 24
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| Initial prices: | $61.11 for Starbucks, $45.39 for Mondelez, $92.56 for Kraft
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| Barrier prices: | $36.666 for Starbucks, $27.234 for Mondelez, $55.536 for Kraft, 60% of initial levels
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| Pricing date: | April 24
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| Settlement date: | April 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.151%
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| Cusip: | 46646QQH1
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