By Wendy Van Sickle
Columbus, Ohio, March 10 – JPMorgan Chase Financial Co. LLC priced $800,000 of autocallable contingent interest notes due June 3, 2021 linked to the common stock of Schlumberger NV, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above the coupon barrier – 75% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 14% per year.
If the shares close at or above their initial price on any quarterly review date other than the first and final dates, the notes will be called at par plus the contingent coupon.
The payout at maturity will be par plus the final coupon, if any, unless the final share price is less than its 75% trigger price, in which case investors will be exposed to the share price decline from the initial price.
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: | Schlumberger NV
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| Amount: | $800,000
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| Maturity: | June 3, 2021
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| Coupon: | 14% per year, payable each quarter that stock closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon, if any, unless the final share price is less than trigger price, in which case investors will be exposed to the share price decline from the initial price
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| Call: | Automatically at par plus coupon if shares close at or above initial price on any quarterly review date other than first and final dates
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| Initial share price: | $27.09
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| Coupon barrier: | $20.3175, 75% of initial price
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| Trigger price: | $20.3175, 75% of initial price
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| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132HF80
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