By Marisa Wong
Morgantown, W.Va., Feb. 2 – JPMorgan Chase Financial Co. LLC priced $11.57 million of trigger autocallable contingent yield notes due Jan. 31, 2019 linked to the iShares Russell 2000 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, notes will pay a contingent coupon at the rate of 8% per year if the fund closes at or above the coupon barrier, 80% of the initial share price, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if the fund closes at or above the initial share price on any quarterly observation date prior to the final valuation date.
If the notes are not called and the final share price is greater than or equal to the 80% downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETF: | iShares Russell 2000 ETF
|
| Amount: | $11,574,880
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| Maturity: | Jan. 31, 2019
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| Coupon: | 8%, payable each quarter that fund closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless fund finishes below downside threshold level, in which case 1% loss for each 1% decline
|
| Call: | After six months, at par plus contingent coupon if fund closes at or above initial share price on any quarterly observation date prior to final valuation date
|
| Initial price: | $136.19
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| Coupon barrier: | $108.95, 80% of initial price
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| Downside threshold: | $108.95, 80% of initial price
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| Pricing date: | Jan. 27
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| Settlement date: | Jan. 31
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48128P175
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