By Marisa Wong
Morgantown, W.Va., Dec. 11 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Dec. 19, 2018 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above its 70% coupon barrier on a quarterly review date, the notes will pay a contingent coupon that quarter at a rate of 7.1% per year plus any previously unpaid contingent coupons. If the contingent coupon is not paid on any interest payment date, that unpaid coupon will be paid on a later interest payment date if the stock closes at or above the coupon barrier on the review date related to that later interest payment date.
The notes will be called at par plus the contingent coupon 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 unless the stock finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Bank of America Corp. (Symbol: BAC)
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| Amount: | $500,000
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| Maturity: | Dec. 19, 2018
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| Coupon: | If stock closes at or above its coupon barrier on a quarterly review date, notes will pay a contingent coupon that quarter at a rate of 7.1% per year plus any previously unpaid contingent coupons for any prior review dates
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless stock finishes below trigger level, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly review date other than final date
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| Initial price: | $28.28
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| Coupon barrier: | $19.796, 70% of initial price
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| Trigger level: | $19.796, 70% of initial price
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| Final price: | Average of closing share prices on five averaging dates ending Dec. 14, 2018
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48129HUD7
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