New York, June 18 – JPMorgan Chase Financial Co. LLC priced $4.08 million trigger autocallable contingent yield notes due June 18, 2020 linked to the common stock of Western Digital Corp., 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 10.75% if the stock closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless the stock finishes below the downside threshold, 60% of its initial level, in which case investors will lose 1% for every 1% in the decline from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Western Digital Corp.
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| Amount: | $4,075,900
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| Maturity: | June 18, 2020
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| Coupon: | 10.75%, payable quarterly if shares close at or above coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Call: | At par if shares close at or above initial price on any quarterly observation date
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| Payout at maturity: | Par plus final coupon unless stock finishes below downside threshold, in which case 1% loss for every 1% decline
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| Initial price: | $82.55
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| Coupon barrier: | $49.53; 60% of initial level
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| Downside threshold: | $49.53; 60% of initial level
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| Pricing date: | June 14
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| Settlement date: | June 19
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| Underwriters: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 48129N625
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