By Sarah Lizee
Olympia, Wash., Oct. 16 – JPMorgan Chase Financial Co. LLC priced $1.08 million of autocallable contingent income securities due Oct. 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 annualized rate of 10% if the stock closes at or above the 78.35% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the underlying stock finishes below its 78.35% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent income securities
|
| Underlying stock: | Bank of America Corp. (Symbol: BAC)
|
| Amount: | $1,075,000
|
| Maturity: | Oct. 30, 2019
|
| Coupon: | 10%, payable quarterly if stock closes at or above 78.35% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below 78.35% trigger, in which case 1% loss per 1% decline
|
| Call: | At par if stock closes at or above initial level on any determination date other than the final date
|
| Initial level: | $28.46
|
| Coupon barrier/Trigger level: | $22.29841, 78.35% of initial level
|
| Pricing date: | Oct. 12
|
| Settlement date: | Oct. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48130U6R1
|
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