By Tali Rackner
Minneapolis, May 14 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due April 25, 2022 linked to the least performing of the common stocks of Home Depot, Inc., Lowe’s Cos., Inc. and Wal-Mart Stores, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 7.7% if each stock closes at or above its 55% interest barrier on the review date for that quarter.
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 and final dates.
The payout at maturity will be par unless any stock finishes below its 55% trigger level, in which case investors will be fully exposed to any losses of the least-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: | Home Depot, Inc. (Symbol: HD), Lowe’s Cos., Inc. (Symbol: LOW) and Wal-Mart Stores, Inc. (Symbol: WMT)
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| Amount: | $500,000
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| Maturity: | April 25, 2022
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| Coupon: | 7.7% annualized, payable quarterly if each stock closes at or above 55% interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 55% trigger, in which case full exposure to losses of least-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 and final dates
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| Initial levels: | $177.01 for Home Depot, $83.62 for Lowes and $86.98 for Wal-Mart
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| Interest barrier/triggers: | $97.3555 for Home Depot, $45.991 for Lowes and $47.839 for Wal-Mart, 55% of initial levels
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| Pricing date: | April 20
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| Settlement date: | April 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48129MMU7
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