By Wendy Van Sickle
Columbus, Ohio, Feb. 15 – JPMorgan Chase Financial Co. LLC priced $4.88 million of contingent income autocallable securities due Feb. 12, 2021 linked to Allergan plc ordinary shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 9.25% if the stock closes at or above the 75% downside threshold on the review date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Allergan plc
|
| Amount: | $4,882,500
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| Maturity: | Feb. 12, 2021
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| Coupon: | 9.25% annualized, payable quarterly if stock closes at or above barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above barrier, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par if stock closes at or above initial level on first 11 determination dates
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| Initial level: | $162.77
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| Downside threshold: | $122.0775, 75% of initial level
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution
|
| Fees: | 2.5%
|
| Cusip: | 48129L801
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