By Wendy Van Sickle
Columbus, Ohio, May 18 – JPMorgan Chase Financial Co. LLC priced $1.77 million of autocallable contingent interest notes due May 2, 2024 linked to the least performing of the common stocks of Chipotle Mexican Grill, Inc., Facebook, Inc. and Discover Financial Services, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.5% if each stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call review date after six months.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to the losses of the worst performing stock.
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: | Chipotle Mexican Grill, Inc., Facebook, Inc. and Discover Financial Services
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| Amount: | $1,773,000
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| Maturity: | May 2, 2024
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| Coupon: | 12.5% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below 60% trigger level, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial share price on any quarterly call review date after six months
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| Initial share prices: | $1,468.87 for Chipotle Mexican Grill, $303.57 for Facebook and $107.76 for Discover
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| Coupon barriers: | $881.322 for Chipotle Mexican Grill, $182.142 for Facebook and $64.656 for Discover; 60% of initial prices
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| Trigger levels: | $881.322 for Chipotle Mexican Grill, $182.142 for Facebook and $64.656 for Discover; 60% of initial prices
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48132TTW6
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