By Wendy Van Sickle
Columbus, Ohio, March 15 – JPMorgan Chase Financial Co. LLC priced $2.5 million of autocallable contingent interest notes due March 18, 2020 linked to Caesars Entertainment Corp. stock, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15% if the stock closes at or above the 62.5% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the final date.
The payout at maturity will be par plus unless the stock finishes below its 62.5% trigger level, in which case investors will be fully exposed to any losses.
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: | Autocallable contingent interest notes
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Underlying asset: | Caesars Entertainment Corp. (Symbol: CZR)
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Amount: | $2.5 million
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Maturity: | March 18, 2020
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Coupon: | 15%, payable quarterly if stock closes at or above 62.5% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon, unless shares finish below 62.5% trigger level, in which case par plus stock return
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Call: | At par plus contingent coupon if shares close at or above initial price on quarterly review date other than final date
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Initial level: | $8.50
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Trigger level: | $5.3125, 62.5% of the initial level
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Pricing date: | March 13
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Settlement date: | March 18
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.08%
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Cusip: | 48130WJ36
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