By Devika Patel
Knoxville, Tenn., Jan. 2 – JPMorgan Chase Financial Co. LLC priced $826,000 autocallable contingent interest notes due March 23, 2020 linked to the common stock of American Airlines Group Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 12% if American shares close at or above the interest barrier level, 55% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if American shares close at or above the initial share price on any quarterly review date other than the final one beginning on June 18, 2019.
If the stock finishes at or above its initial level and never closes below the 55% trigger level during the life of the notes, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for each 1% decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying shares: | American Airlines Group Inc. (Nasdaq: AAL)
|
| Amount: | $826,000
|
| Maturity: | March 23, 2020
|
| Coupon: | 12% annualized for each quarter that American stock closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless the stock finishes below its initial level and closes below 55% trigger level during the life of the notes, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if American shares close at or above initial share price on any quarterly review date other than the final date beginning June 18, 2019
|
| Initial share price: | $33.54
|
| Interest barrier/trigger level: | $18.447, 55% of initial share price
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48130WKF7
|
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