Chicago, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $1.25 million of autocallable contingent interest notes due Oct. 29, 2020 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay contingent interest at an annual rate of 8.2% if the stock closes at or above its 75% interest barrier on the related quarterly review date.
The notes will be called at par plus the contingent interest payment if the stock closes at or above its initial level on any quarterly review date other than the first and final dates.
If the notes are not called and the stock closes above its initial level or has never closed below the 75% trigger level during the life of the notes, the payout at maturity will be par plus the contingent interest payment. Otherwise, investors will be fully exposed to any losses of the stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
| 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: | Amazon.com, Inc.
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| Amount: | $1,252,000
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| Maturity: | Oct. 29, 2020
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| Contingent interest payment: | 8.2%, payable quarterly if stock closes at or above trigger level on related review date
|
| Price: | Par
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| Payout at maturity: | Par plus contingent interest payment if stock finishes above initial level or never closes below 75% trigger level during life of notes; otherwise, full exposure to losses
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| Call: | Automatically at par plus contingent interest payment if Amazon stock closes at or above initial level on any quarterly review date other than the first and final dates
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| Initial share price: | $2,000.81
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| Interest barrier/trigger level: | $1,500.6075, 75% of initial price
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| Pricing date: | July 24
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| Settlement date: | July 29
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132C4R1
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