By Susanna Moon
Chicago, June 25 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due June 18, 2020 linked to the least performing of the common stocks of American Airlines Group Inc. and Morgan Stanley and the common units of Plains All American Pipeline, LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 13% if each stock closes at or above its 60% coupon barrier on the review date for that period.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Autocallable contingent interest notes
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| Underlying stock: | American Airlines Group Inc. (Symbol: AAL), Morgan Stanley (Symbol: MS) and Plains All American Pipeline, LP (Symbol: PAA)
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| Amount: | $500,000
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| Maturity: | June 18, 2020
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| Coupon: | 13% annualized, payable semiannually if each stock closes at or above 60% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than final date
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| Initial levels: | $42.92 for American Air, $51.60 for Morgan Stanley and $25.15 for Plains
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| Trigger levels: | $25.752 for American Air, $30.96 for Morgan Stanley and $15.09 for Plains, 60% of initial levels
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| Pricing date: | June 13
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| Settlement date: | June 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.95%
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| Cusip: | 48129M2J4
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