By Angela McDaniels
Tacoma, Wash., Aug. 27 – JPMorgan Chase Financial Co. LLC priced $1.26 million of autocallable contingent interest notes due Nov. 27, 2020 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Amazon stock closes at or above the trigger level, 70% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon at the rate of 8.25% per year.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless Amazon stock closes below its trigger level during the life of the notes and the final share price is less than the initial share price, in which case investors will be exposed to the stock’s decline.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Amazon.com, Inc. (Symbol: AMZN)
|
| Amount: | $1,257,000
|
| Maturity: | Nov. 27, 2020
|
| Coupon: | If Amazon stock closes at or above trigger value on quarterly review date, notes pay contingent coupon at rate of 8.25% per year
|
| Price: | Par
|
| Payout at maturity: | Par unless Amazon stock closes below trigger level during life of notes and final share price is less than initial share price, in which case exposure to stock’s decline
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than first and final ones
|
| Initial share price: | $1,749.62
|
| Trigger level: | $1,224.734, or 70% of initial share price
|
| Pricing date: | Aug. 23
|
| Settlement date: | Aug. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132FAC0
|
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