By Susanna Moon
Chicago, July 20 – JPMorgan Chase Financial Co. LLC priced $1.98 million of autocallable contingent interest notes due July 18, 2022 linked to the least performing of the common stocks of Celgene Corp., Morgan Stanley and Newell Brands Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12% if each stock closes at or above its 50% coupon barrier on the review date for that quarter.
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 first and final dates.
The payout at maturity will be par unless any stock finishes below its 50% 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: | Celgene Corp. (Symbol: CELG), Morgan Stanley (Symbol: MS) and Newell Brands Inc. (Symbol: NWL)
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| Amount: | $1,975,000
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| Maturity: | July 18, 2022
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| Coupon: | 12% annualized, payable quarterly if each stock closes at or above 50% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 50% 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 first and final dates
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| Initial levels: | $85.69 for Celgene, $48.08 for Morgan Stanley and $27.80 for Newell
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| Trigger levels: | $42.845 for Celgene, $24.04 for Morgan Stanley and $13.90 for Newell, 60% of initial levels
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| Pricing date: | July 13
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| Settlement date: | July 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48129MH82
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