By Sarah Lizee
Olympia, Wash., May 26 – JPMorgan Chase Financial Co. LLC priced $1.35 million of autocallable contingent interest notes due Aug. 26, 2021 linked to the common stock of Apple Inc., 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 price – 73% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at an annualized rate of 9.25%.
If the shares close at or above the initial price on any quarterly review date other than the first and final ones, the notes will be called at par.
The payout at maturity will be par unless the stock closes below the 73% trigger price, in which case investors will be fully exposed to the share price decline.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $1,349,000
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| Maturity: | Aug. 26, 2021
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| Coupon: | 9.25%, payable each quarter that stock closes at or above coupon barrier price on review date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless stock closes below trigger price, in which case full exposure to share price decline
|
| Call: | If the shares close at or above the initial price on any quarterly review date other than the first and final ones, notes will be called at par
|
| Initial level: | $316.85
|
| Coupon barrier price: | $231.3005; 73% of initial price
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| Trigger price: | $231.3005, 73% of initial price
|
| Pricing date: | May 21
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| Settlement date: | May 27
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132KM77
|
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