By Sarah Lizee
Olympia, Wash., May 22 – JPMorgan Chase Financial Co. LLC priced $4.26 million of autocallable contingent interest notes due Aug. 20, 2020 linked to ConocoPhillips common stock, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.7% if the stock closes at or above the 60% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the first and final dates.
The payout at maturity will be par plus unless the stock finishes below its initial level and has ever closed below 60% of its initial level on any day during the life of the notes, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
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: | ConocoPhillips
|
| Amount: | $4,257,000
|
| Maturity: | Aug. 20, 2020
|
| Coupon: | 7.7%, payable quarterly if stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below the initial value and has ever closed below its trigger value on any day during the life of the notes, in which case investors will be exposed to the stock’s decline from its initial share price
|
| Call: | Automatically at par if stock closes at or above initial share price on any quarterly review date other than first and final ones
|
| Initial share price: | $62.10
|
| Trigger value: | $37.26, 60% of initial share price
|
| Pricing date: | May 17
|
| Settlement date: | May 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132CKM4
|
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