By Angela McDaniels
Tacoma, Wash., Oct. 28 – JPMorgan Chase Financial Co. LLC priced $12.38 million of autocallable contingent interest notes due Oct. 31, 2019 linked to the lesser performing of the common stocks of Apple, Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10.5% if each stock closes at or above its trigger value, 60% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly review date other than the first and final review dates.
The payout at maturity will be par unless either stock finishes below its trigger value, in which case investors will have one-to-one exposure to the decline of the lesser-performing stock from its initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Apple, Inc. (Symbol: AAPL) and Amazon.com, Inc. (Symbol: AMZN)
|
| Amount: | $12,381,000
|
| Maturity: | Oct. 31, 2019
|
| Coupon: | 10.5%, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| Price: | 97.65 for $865,000 of notes sold to certain fee-based advisory accounts; par for remaining notes
|
| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of worse-performing stock from initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date other than first and final review dates
|
| Initial share prices: | $115.59 for Apple and $822.59 for Amazon
|
| Trigger values: | $65.354 for Apple and $493.554 for Amazon; 60% of initial share prices
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
|
| Cusip: | 46646EY55
|
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