By Angela McDaniels
Tacoma, Wash., Dec. 16 – JPMorgan Chase Financial Co. LLC priced $6.43 million of autocallable contingent interest notes due March 17, 2021 linked to the common stock of American Airlines Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10.5% per year if the stock closes at or above the trigger value, 55% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par if American stock closes at or above its initial share price on any review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless American stock closes below the trigger value during the life of the notes and finishes below the initial share price, in which case investors will be exposed to the stock’s decline from its initial share price.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | American Airlines Group Inc. (Symbol: AAL)
|
| Amount: | $6,434,000
|
| Maturity: | March 17, 2021
|
| Coupon: | 10.5% per year, payable quarterly if stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless American stock closes below trigger value during life of notes and finishes below initial share price, in which 1% loss for every 1% that stock finishes below initial share price
|
| Call: | Automatically at par plus contingent coupon if American stock closes at or above initial share price on any quarterly review date other than first and final ones
|
| Initial share price: | $27.72
|
| Trigger value: | $15.246, or 55% of initial share price
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132FX35
|
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