Chicago, Sept. 30 – JPMorgan Chase Financial Co. LLC priced $5.25 million review notes linked to a Brent crude oil futures contract due Oct. 13, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called if the contract price on a quarterly review date is greater than the initial contract price or, on the final review date, above 65% of the initial contract price. Investors will receive par plus a call premium of 3.5% each quarter if the notes are called, or an annualized rate of 14%.
If the notes have not been called, meaning the ending contract price has declined by more than 35%, investors will be fully exposed to the losses of the final contract return.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Review notes
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| Underlier: | Brent crude oil futures contract, first nearby month
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| Amount: | $5,250,000
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| Maturity: | Oct. 13, 2020
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final contract price is above 65% of initial level, the call return applicable to the final review date; otherwise full exposure to losses
|
| Call: | Automatically at par plus premium at annualized rate of 14% if contract price is above initial level on first three quarterly review dates or above 65% on final review date
|
| Initial price: | $63.6
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| Trigger price: | 65% of initial level
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| Pricing date: | Sept. 18
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| Settlement date: | Sept. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
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| Cusip: | 48130USB2
|
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