By Susanna Moon
Chicago, July 20 – JPMorgan Chase Financial Co. LLC priced $8.4 million of autocallable contingent interest notes due July 21, 2021 linked to the least performing of the common stocks of E*Trade Financial Corp., Charles Schwab Corp. and TD Ameritrade Holding Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.5% if each stock closes at or above its 65% coupon barrier on the review date for that month.
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 first through fifth and final dates.
The payout at maturity will be par unless any stock finishes below its 65% 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 assets: | E*Trade Financial Corp. (Symbol: AMZN), Charles Schwab Corp. (Symbol: GOOG) and TD Ameritrade Holding Corp. (Symbol: NFLX)
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| Amount: | $8.4 million
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| Maturity: | July 21, 2021
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| Coupon: | 9.5% annualized, payable monthly if each stock closes at or above 65% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 65% 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 review date other than first through fifth and final dates
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| Initial levels: | $59.91 for E*Trade, $51.06 for Schwab and $55.45 for TD Ameritrade
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| Trigger levels: | $38.9415 for E*Trade, $33.189 for Schwab and $36.0425 for TD Ameritrade, 65% of initial levels
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| Pricing date: | July 16
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| Settlement date: | July 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.497%
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| Cusip: | 48129MH33
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