By Sarah Lizee
Olympia, Wash., July 5 – JPMorgan Chase Financial Co. LLC priced $525,000 of autocallable contingent interest notes due Oct. 1, 2020 linked to the common stock of Comcast Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 7.75% per year if the stock closes at or above the trigger level, 65% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par if Amazon.com stock closes at or above its initial share price on any quarterly review date other than the first and final review dates.
The payout at maturity will be par unless Amazon.com stock finishes below its initial level and ever closes below the trigger level any day during the life of the notes, in which case investors will be fully 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: | Comcast Corp.
|
| Amount: | $525,000
|
| Maturity: | Oct. 1, 2020
|
| Coupon: | 7.75% per year, payable quarterly if stock closes at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than initial price and stock ever closes below trigger level during life of notes, in which case exposure to stock’s decline from initial share price
|
| Call: | Automatically at par if stock closes at or above initial share price on any quarterly review date other than first and final ones
|
| Initial share price: | $42.28
|
| Trigger value: | $27.482, 65% of initial share price
|
| Pricing date: | June 28
|
| Settlement date: | June 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132CWR0
|
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