By Susanna Moon
Chicago, Feb. 19 – JPMorgan Chase & Co. priced $2.43 million of trigger phoenix autocallable optimization securities due Feb. 20, 2020 linked to Bank of America Corp. shares, 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 the coupon barrier, 75.05% of the initial share price, on an observation date for that month.
The notes will be called at par if Bank of America shares close at or above the initial share price on any monthly observation date after one year.
The payout at maturity will be par unless the stock finishes below the 75.05% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Bank of America Corp. (Symbol: BAC)
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| Amount: | $2.43 million
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| Maturity: | Feb. 20, 2020
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| Coupon: | 7%, payable monthly if stock closes at or above trigger price on observation date for that month
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger level; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if shares close at or above initial price on a monthly observation date after one year
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| Initial share price: | $16.61
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| Trigger price: | $12.47, 75.05% of initial price
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 19
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| Underwriters: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 48127R420
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