By Sarah Lizee
Olympia, Wash., Oct. 4 – JPMorgan Chase Financial Co. LLC priced $1.12 million of autocallable contingent interest notes due Oct. 6, 2021 linked to the common stock of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above the 60% coupon barrier on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 9% per year.
If the shares close at or above the initial price on any quarterly review date other than the final one, the notes will be called at par plus the contingent coupon.
If the notes are not called and the shares finish at or above the 60% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Wynn Resorts, Ltd. (Symbol: WYNN)
|
| Amount: | $1.12 million
|
| Maturity: | Oct. 6, 2021
|
| Coupon: | 9% per year, payable quarterly that stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any quarterly review date other than the final one
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| Initial price: | $125.29
|
| Coupon barrier: | $75.174, 60% of initial price
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| Trigger price: | $75.174, 60% of initial price
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| Pricing date: | Oct. 1
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| Settlement date: | Oct. 5
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48130U4R3
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