By Wendy Van Sickle
Columbus, Ohio, April 5 – JPMorgan Chase Financial Co. LLC priced $1.06 million of autocallable contingent interest notes due April 1, 2021 linked to the least performing of the common stocks of Bank of America Corp., U.S. Bancorp and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 10.25% if each stock closes at or above its trigger value, 65% of its initial share price, on the review date for that quarter.
The notes will be called at par if each stock closes at or above its initial share price on any review date other than the final review date.
The payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the least-performing stock.
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 stocks: | Bank of America Corp., U.S. Bancorp and Wells Fargo & Co.
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| Amount: | $1,064,000
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| Maturity: | April 1, 2021
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| Coupon: | 10.25% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of least-performing stock from initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any review date other than final review date
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| Initial share prices: | $27.03 for BofA, $48.13 for U.S. and $48.77 for Wells Fargo
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| Trigger values: | $17.5695 BofA, $31.2845 for U.S. and $31.7005 for Wells Fargo; 65% of initial share prices
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| Pricing date: | March 27
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| Settlement date: | March 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 48130WP47
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