By Wendy Van Sickle
Columbus, Ohio, May 18 – JPMorgan Chase Financial Co. LLC priced $225,000 of 0% review notes due June 1, 2021 linked to the common shares of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 15.62% per year if the stock closes at or above its initial share price on any of three quarterly call dates.
If the notes are not called, investors will receive par plus 15.62% unless the stock finishes below 50% of its initial share price, in which case investors will lose 1% for each 1% that the stock declines from its initial share price.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying stock: | Bank of America Corp.
|
| Amount: | $225,000
|
| Maturity: | June 1, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 15.62% unless stock finishes below 50% of initial share price, in which case 1% loss for each 1% that stock declines from initial share price
|
| Call: | Automatically at par plus call premium of 15.62% per year if stock closes at or above its initial share price on a quarterly call date other than the final date
|
| Initial share price: | $20.87
|
| Trigger value: | $10.435, 50% of initial share price
|
| Pricing date: | May 14
|
| Settlement date: | May 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132KK38
|
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