By Kiku Steinfeld
Chicago, Oct. 5 – JPMorgan Chase Financial Co. LLC priced $2.24 million of autocallable contingent interest notes due Dec. 30, 2021 linked to the lesser performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.25% if each index closes at or above its 70% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall date after six months.
The payout at maturity will be par unless either index falls by more than 30%, in which case investors will be exposed to any losses of the worse performing index.
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.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 index and Dow Jones industrial average
|
| Amount: | $2,238,000
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| Maturity: | Dec. 30, 2021
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| Coupon: | 6.25% annualized, payable monthly if each index closes at or above 70% coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls by more than 30%, in which case 1% loss for each 1% decline of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly autocall date after six months
|
| Initial levels: | 1,474.908 for Russell and 27,173.96 for Dow
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| Coupon barriers/buffer levels: | 1,032.436 for Russell and 19,021.772 for Dow, 70% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.34%
|
| Cusip: | 61771BT61
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