By William Gullotti
Buffalo, N.Y, May 30 – JPMorgan Chase Financial Co. LLC priced $1.83 million of 15% callable yield notes due May 28, 2025 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly.
The notes are guaranteed by JPMorgan Chase & Co.
The notes may be called at par on any quarterly review date.
The payout at maturity will be par plus the coupon unless the stock finishes below its trigger level, 46.5% of its initial level, in which case investors will be fully exposed to the stock’s decline.
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: | Callable yield notes
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| Underlying stock: | Tesla, Inc.
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| Amount: | $1,831,000
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| Maturity: | May 28, 2025
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| Coupon: | 15%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case 1% loss for each 1% decline from initial level
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| Call option: | At par on any quarterly review date
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| Initial level: | $188.87
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| Trigger level: | $87.82455; 46.5% of initial level
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| Pricing date: | May 22
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| Settlement date: | May 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133WUP1
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