By Susanna Moon
Chicago, Sept. 6 – JPMorgan Chase Financial Co. LLC priced $1.62 million of contingent coupon callable yield notes due Sept. 30, 2020 linked to Bristol-Myers Squibb Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 10% if the stock closes above its 80% 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 80% trigger level, in which case investors will be fully exposed to the decline.
J.P. Morgan Securities LLC is the agent.
| 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: | Bristol-Myers Squibb Co. (Symbol: BMY)
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| Amount: | $1.62 million
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| Maturity: | Sept. 30, 2020
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| Coupon: | 10% annualized, payable quarterly if shares close at or above 80% 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 downside threshold, 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 price: | $60.17
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| Trigger level: | $48.136, 80% of initial level
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48130UDY8
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