By Susanna Moon
Chicago, Nov. 29 – JPMorgan Chase Financial Co. LLC priced $2.27 million of contingent coupon callable yield notes due Nov. 13, 2020 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 8.41% if the stock closes above its 70% coupon barrier on the observation date for that quarter.
The notes may be called on any contingent interest payment date other than the final date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below its 70% trigger level, in which case investors will be fully exposed to the decline.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon callable yield notes
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| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
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| Amount: | $2,273,000
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| Maturity: | Nov. 13, 2020
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| Coupon: | 8.41% annualized, payable quarterly if shares close at or above 70% coupon barrier on quarterly determination date
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above trigger level, par; otherwise, 1% loss for each 1% decline
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| Call option: | At par on any interest payment date other than final date
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| Initial share price: | $204.47
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| Trigger price: | $143.129, 70% of initial price
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| Pricing date: | Nov. 9
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| Settlement date: | Nov. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48130WBW0
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