By Wendy Van Sickle
Columbus, Ohio, July 17 – JPMorgan Chase Financial Co. LLC priced $1.11 million of contingent coupon callable yield notes due July 2, 2020 linked to the common shares of Toll Brothers, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 10% if the stock closes above its 70% coupon barrier on the observation date for that quarter.
The notes may be called on any contingent interest payment date other than the final date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below its 70% trigger value, in which case investors will be fully exposed to the decline.
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: | Contingent coupon callable yield notes
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| Underlying stock: | Toll Brothers, Inc.
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| Amount: | $1,112,000
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| Maturity: | July 2, 2020
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| Coupon: | 10% per year, payable quarterly if shares close at or above the coupon barrier on quarterly determination date
|
| Price: | Par of $10
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| Payout at maturity: | If final share price is greater than or equal to downside threshold, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | Callable on any interest payment date other than final determination date
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| Initial price: | $36.99
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| Coupon barrier/trigger: | $25.893, 70% of initial price
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| Pricing date: | June 29
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| Settlement date: | July 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48129M5A0
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