By William Gullotti
Buffalo, N.Y., Aug. 19 – JPMorgan Chase Financial Co. LLC priced $990,000 of autocallable contingent interest notes due Nov. 16, 2022 linked to the class C capital stock of Zillow Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a monthly contingent interest payment at an annual rate of 10% if the stock closes above its 60% coupon barrier level on the relevant review date.
If the stock closes at or above 85% of its initial level on any monthly review date other than the first, second and final, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus any contingent interest payment due if the final level of the stock closes at or above its trigger price, 60% of its initial price.
Otherwise, investors will be fully exposed to the decline of the stock.
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: | Zillow Group, Inc.
|
| Amount: | $990,000
|
| Maturity: | Nov. 16, 2022
|
| Coupon: | 10% annual rate, payable monthly if stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if stock finishes above trigger price; otherwise, full exposure to losses of stock
|
| Call: | At par plus interest payment if stock finishes at or above 85% of initial level on any monthly review date other than the first, second and final
|
| Initial price: | $114.78
|
| Coupon barrier level: | $68.868; 60% of initial price
|
| Trigger level: | $68.868; 60% of initial price
|
| Call level: | 85% of initial level
|
| Pricing date: | May 11
|
| Settlement date: | May 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132TN77
|
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