By Susanna Moon
Chicago, Feb. 24 – JPMorgan Chase & Co. priced $1 million of autocallable contingent interest notes due Feb. 25, 2020 linked to Viacom, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon at an annual rate of 5.5% if Viacom stock closes at or above the trigger level – 75% of the initial share price – on a review date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date.
If the notes are not called and Viacom shares finish at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Viacom, Inc. (NYSE: VIAB)
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| Amount: | $1 million
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| Maturity: | Feb. 25, 2020
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| Coupon: | 5.5%, payable quarterly if stock closes at or above trigger price on review date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if Viacom shares finish at or above trigger level; otherwise, 14.34514 Viacom shares
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| Call: | At par plus contingent coupon if Viacom shares close at or above initial price on a quarterly review date
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| Initial share price: | $69.71
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| Trigger price: | $52.2825, 75% of initial price
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| Pricing date: | Feb. 20
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| Settlement date: | Feb. 25
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48125UFU1
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