By Sarah Lizee
Olympia, Wash., Jan. 22 – JPMorgan Chase Financial Co. LLC priced $2.32 million of 0% autocallable contingent interest notes due April 22, 2021 linked to the common stock of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above the coupon barrier – 77% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 9.35% per year. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on any quarterly review date other than the first and final dates, the notes will be called at par plus the contingent coupon.
The payout at maturity will be par unless the shares close below the 77% trigger price on any day during the life of the notes and finish below the initial price, in which case investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Boeing Co.
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| Amount: | $2,319,000
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| Maturity: | April 22, 2021
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| Coupon: | 9.35%, payable each quarter that stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless shares close below the trigger price on any day during the life of the notes and finish below the initial price, in which case full exposure to the share price decline from the initial price
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any quarterly review date other than the first and final dates
|
| Initial share price: | $324.15
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| Coupon barrier: | $249.5955, 77% of initial price
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| Trigger price: | $249.5955, 77% of initial price
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| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 23
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132HRK0
|
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