By Tali Rackner
Minneapolis, May 1 – JPMorgan Chase Financial Co. LLC priced $2.59 million of autocallable contingent interest notes due April 30, 2019 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.
The notes will pay a contingent quarterly coupon at an annual rate of 11.05% if the stock closes at or above its 75% interest barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the stock price on any review date other than the final date.
The payout at maturity will be par unless the final stock price is below its 75% trigger level, in which case investors will lose 1% for each 1% that the stock is less than its stock price.
The final stock price will be the average of the closing prices for the five days ending April 18, 2019.
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. (Symbol: BAC)
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| Amount: | $2.59 million
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| Maturity: | April 30, 2019
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| Coupon: | 11.05% annualized, payable quarterly if stock closes at or above 75% interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless final stock price is below 75% trigger, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if stock closes at or above stock price on any review date other than final date
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| Strike price: | $30.65
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| Interest barrier/trigger level: | $22.9875, 75% of stock price
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| Pricing date: | April 13
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| Settlement date: | April 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48129MMT0
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