By Sarah Lizee
Olympia, Wash., April 17 – JPMorgan Chase Financial Co. LLC priced $1.03 million of autocallable contingent interest notes due July 20, 2020 linked to Amazon.com, Inc. stock, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.6% if the stock closes at or above the 65% trigger level on the observation date for that month.
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 first and final dates.
The payout at maturity will be par plus unless the stock ever closes below its trigger level during the life of the notes and finishes below its initial 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying asset: | Amazon.com, Inc. (Symbol: AMZN)
|
| Amount: | $1,033,000
|
| Maturity: | July 20, 2020
|
| Coupon: | 6.6%, payable monthly if stock closes at or above trigger level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if shares never close below trigger level and finish below its initial level; otherwise, par plus stock return
|
| Call: | At par plus contingent coupon if shares close at or above initial price on quarterly review date other than first and final dates
|
| Initial level: | $1,844.87
|
| Trigger level: | $1,199.1655, 65% of the initial level
|
| Pricing date: | April 15
|
| Settlement date: | April 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132CAR4
|
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