By Sarah Lizee
Olympia, Wash., May 7 – JPMorgan Chase Financial Co. LLC priced $4.75 million of 6.05% autocallable yield notes due Nov. 9, 2020 linked to the common stocks of Bristol-Myers Squibb Co., eBay Inc. and MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its call level on any monthly observation date. The call level will be 95% of the initial levels for the first six review dates, 92.5% of the initial levels for the seventh through the eleventh review dates, and 90% of the initial levels for the remaining review dates.
If the notes are not called, the payout at maturity will be par unless any stock finishes below its 56% barrier, in which case investors will be fully exposed to the decline of the least-performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
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| Underlying stocks: | Bristol-Myers Squibb Co., eBay Inc. and MetLife, Inc.
|
| Amount: | $4.75 million
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| Maturity: | Nov. 9, 2020
|
| Coupon: | 6.05% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless any asset finishes below its barrier level, in which case 1% loss for each 1% decline of the worst-performing asset
|
| Call: | At par if each stock closes at or above its call level on any monthly observation date; call level will be 95% of the initial levels for the first six review dates, 92.5% of the initial levels for the seventh through the eleventh review dates, and 90% of the initial levels for the remaining review dates
|
| Initial levels: | $46.88 for Bristol-Myers, $37.59 for eBay, $47.41 for MetLife
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| Barrier levels: | $26.2528 for Bristol-Myers, $21.0504 for eBay, $26.5496 for MetLife, 56% of initial levels
|
| Pricing date: | May 3
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| Settlement date: | May 10
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
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| Cusip: | 48132CKQ5
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