By Susanna Moon
Chicago, Nov. 7 – JPMorgan Chase Financial Co. LLC priced $2.71 million of contingent coupon callable yield notes due Nov. 6, 2019 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 9% if the stock closes above its 75% coupon barrier on the observation date for that quarter.
The notes may are callable on any contingent interest payment date other than the final date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below its 75% trigger level, in which case investors will be fully exposed to any losses.
The notes will be 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: | Contingent coupon callable yield notes
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| Underlying stock: | Bank of America Corp. (Symbol: BAC)
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| Amount: | $2,711,000
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| Maturity: | Nov. 6, 2019
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| Coupon: | 9% per year, payable quarterly if shares close at or above 75% coupon barrier on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger, in which case 1% loss for each 1% decline
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| Call: | At par on any interest payment date other than final date
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| Initial price: | $27.60
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| Trigger level: | $20.70, 75% of initial price
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48129HHT7
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