By Devika Patel
Knoxville, Tenn., Dec. 16 – JPMorgan Chase Financial Co. LLC priced $1.91 million of autocallable contingent interest notes due Dec. 8, 2020 linked to the least performing of the common stock of Walt Disney Co. and the American Depository Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 11% plus any previously unpaid quarterly coupons if each stock closes at or above its interest barrier level, 70% of its initial level, 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 level on any quarterly review date other than the final date beginning on March 3, 2020.
The payout at maturity will be par plus the final coupon and any previously unpaid coupons unless either stock finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing stock from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Walt Disney Co. (Symbol: DIS), Alibaba Group Holding Ltd. (Symbol: BABA)
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| Amount: | $1,905,000
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| Maturity: | Dec. 8, 2020
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| Coupon: | 11% annualized, payable quarterly if each underlying stock closes at or above barrier level on review date for that quarter, plus any unpaid coupons for previous quarters
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon and previously unpaid coupons unless either stock finishes below barrier level, in which case 1% loss for each 1% decline of worse performing stock from initial level
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than the final date beginning on March 3, 2020
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| Initial levels: | $148.58 for Disney and $194.90 for Alibaba
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| Interest/barrier levels: | $104.006 for Disney and $136.43 for Alibaba; 70% of initial levels
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| Strike date: | Dec. 3
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| Pricing date: | Dec. 4
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| Settlement date: | Dec. 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
|
| Cusip: | 48132HFU1
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