By Wendy Van Sickle
Columbus, Ohio, May 12 – JPMorgan Chase Financial Co. LLC priced $621,000 of autocallable contingent interest notes due June 1, 2022 linked to Bank of America Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if the stock closes at or above its 78% coupon barrier on the review date for that period.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any monthly review date after six months.
The payout at maturity will be par unless the stock finishes below its 78% trigger level, in which case investors will lose 1% for each 1% decline from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
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 stock: | Bank of America Corp.
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| Amount: | $621,000
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| Maturity: | June 1, 2022
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| Coupon: | 7% annualized, payable monthly if stock closes at or above its coupon barrier on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case 1% loss for each 1% decline from its initial level
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| Call: | At par plus contingent coupon if the stock closes at or above the initial share price on any monthly review date after six months
|
| Initial share price: | $39.41
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| Coupon barrier/trigger level: | $30.7398, 78% of initial share price
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| Pricing date: | April 26
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| Settlement date: | April 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
|
| Cusip: | 48132TXF8
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