By Angela McDaniels
Tacoma, Wash., Sept. 9 – JPMorgan Chase Financial Co. LLC priced $2.09 million of autocallable contingent interest notes due Sept. 11, 2020 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 7.55% per year if each index closes at or above its trigger value, 70% of its initial level, on the review date for that month.
Beginning March 5, 2020, the notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless either index closes below its trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
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 indexes: | Dow Jones industrial average and Nasdaq-100
|
| Amount: | $2,088,000
|
| Maturity: | Sept. 11, 2020
|
| Coupon: | 7.55% per year, payable monthly if each index closes at or above trigger value on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below trigger value during life of notes and either index finishes below initial level, in which 1% loss for every 1% that lesser-performing index finishes below initial level
|
| Call: | Beginning March 5, 2020, automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date other than final one
|
| Initial levels: | 26,728.15 for Dow and 7,862.539 for Nasdaq-100
|
| Trigger values: | 18,709.705 for Dow and 5,503.7773 for Nasdaq-100, or 70% of initial levels
|
| Pricing date: | Sept. 5
|
| Settlement date: | Sept. 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48132FCE4
|
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