By Sarah Lizee
Olympia, Wash., March 19 – JPMorgan Chase Financial Co. LLC priced $2.98 million of autocallable contingent interest notes due March 18, 2022 linked to the lesser performing of common stock of Netflix, Inc. and the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 10.55% per year if each stock closes at or above its trigger value, 55% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless either stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the lesser-performing stock finishes below its initial share 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 stocks: | Netflix, Inc. and Walt Disney Co.
|
| Amount: | $2,976,000
|
| Maturity: | March 18, 2022
|
| Coupon: | 10.55% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below trigger value, in which case 1% loss for every 1% that lesser-performing stock finishes below initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial share price on any quarterly review date other than first and final ones
|
| Initial stock levels: | $361.46 for Netflix and $114.96 for Disney
|
| Trigger values: | $198.803 for Netflix and $63.228 for Disney; 55% of initial share prices
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48130WE31
|
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