Chicago, March 29 – JPMorgan Chase Financial Co. LLC priced $390,000 of autocallable contingent interest notes due March 2, 2022 linked to the common stock of Tesla Motors, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If Tesla stock closes at or above the interest barrier – 60% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that month at the rate of 23.15% per year. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on any quarterly review date other than the final date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Tesla shares finish at or above the 50% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Tesla Motors, Inc. (Symbol: TSLA)
|
| Amount: | $390,000
|
| Maturity: | March 2, 2022
|
| Coupon: | 23.15% per year, payable quarterly if stock closes at or above interest barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Tesla shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Tesla shares close at or above initial price on any quarterly review date other than final date
|
| Initial share price: | $682.22
|
| Interest barrier: | $409.332, 60% of initial level
|
| Trigger price: | $341.11, 50% of initial price
|
| Pricing date: | March 1
|
| Settlement date: | March 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48132RT83
|
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