By Sarah Lizee
Olympia, Wash., May 15 – JPMorgan Chase Financial Co. LLC priced $1.23 million of 12.25% autocallable yield notes due Aug. 18, 2021 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest rate will payable quarterly.
After six months, the notes will be called at par if the stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par plus the coupon unless the stock closes below its trigger level, 65% of its initial level, in which case investors will be fully exposed to the decline of the 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 yield notes
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| Underlying stocks: | Bank of America Corp.
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| Amount: | $1,234,000
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| Maturity: | Aug. 18, 2021
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| Coupon: | 12.25%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its trigger level, in which case investors will be fully exposed to the decline of the stock
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| Call: | After six months at par if each stock closes at or above its initial level on any quarterly review date other than the final date
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| Initial level: | $20.87
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| Trigger level: | $13.5655, 65% of initial level
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| Pricing date: | May 13
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| Settlement date: | May 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132K7F6
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