By Wendy Van Sickle
Columbus, Ohio, March 14 – JPMorgan Chase Financial Co. LLC priced $1.14 million of autocallable contingent interest notes due March 27, 2019 linked to Bank of America Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its 73.5% coupon barrier on the review date for that quarter. If the stock closes above the coupon barrier on a review date, a coupon will also be paid for any previous quarter for which no coupon was paid.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless the stock finishes below its 73.5% trigger, in which case investors will be fully exposed to any losses.
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: | Autocallable contingent interest notes
|
| Underlying assets: | Bank of America Corp.
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| Amount: | $1,137,000
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| Maturity: | March 27, 2019
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| Coupon: | 10% annualized, payable quarterly if stock closes at or above 73.5% coupon barrier on review date for that quarter, in which case a coupon will also be paid for any previous quarter for which no coupon was paid
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless stock finishes below trigger, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than final date
|
| Initial level: | $32.72
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| Coupon barrier/trigger level: | $24.0492, 73.5% of initial level
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| Pricing date: | March 9
|
| Settlement date: | March 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48129MCV6
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