By Wendy Van Sickle
Columbus, Ohio, Jan. 8 – JPMorgan Chase Financial Co. LLC priced $1.18 million of autocallable contingent interest notes due April 5, 2021 linked to the common stock of Schlumberger NV, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10.5% per year if the stock closes at or above the trigger value, 70% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par if Schlumberger stock closes at or above its initial share price on any review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless Schlumberger stock finishes below the trigger value, in which case investors will be exposed to the stock’s decline 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
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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 (Symbol: SLB)
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| Amount: | $1.18 million
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| Maturity: | April 5, 2021
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| Coupon: | 10.5% per year, payable quarterly if stock closes at or above trigger value on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless Schlumberger stock finishes below trigger value, in which 1% loss for every 1% that stock finishes below initial share price
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| Call: | Automatically at par plus contingent coupon if Schlumberger stock closes at or above initial share price on any quarterly review date other than first and final ones
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| Initial share price: | $40.40
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| Trigger value: | $28.28, or 70% of initial share price
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| Pricing date: | Dec. 30
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| Settlement date: | Jan. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132HKW1
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