By Sarah Lizee
Olympia, Wash., Oct. 16 – JPMorgan Chase Financial Co. LLC priced $529,000 of autocallable contingent interest notes due Jan. 14, 2021 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the trigger level, 65% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon at the rate of 10.15% per year.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial share price on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par plus the coupon unless the stock finishes below its initial level and ever closes below 65% of its initial level on any day during the life of the notes, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.
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 stock: | Bank of America Corp.
|
| Amount: | $529,000
|
| Maturity: | Jan. 14, 2021
|
| Coupon: | 10.15% per year, payable quarterly if stock closes at or above trigger value on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon unless the stock finishes below its initial level and ever closes below 65% of its initial level on any day during the life of the notes, in which case investors will lose 1% for every 1% that the stock declines from its initial share price
|
| Call: | Automatically at par plus the coupon if the stock closes at or above its initial share price on any quarterly review date other than the first and final review dates
|
| Initial share price: | $27.89
|
| Trigger level: | $18.1285, 65% of initial share price
|
| Pricing date: | Oct. 9
|
| Settlement date: | Oct. 15
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132FTU0
|
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