By Kiku Steinfeld
Chicago, Nov. 16 – JPMorgan Chase Financial Co. LLC priced $1 million of contingent interest notes due April 6, 2022 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at a rate equivalent to 1.3437% for the term if the index closes at or above its coupon barrier, 75% of its initial level, on the review date for that period.
The payout at maturity will be par plus the final coupon if the index finishes at or above its coupon barrier.
If the index finishes below its coupon barrier but at or above its 60% trigger value, the payout at maturity will be par. Otherwise, investors will be fully exposed to the index’s decline from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent interest notes
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| Underlying index: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | April 6, 2022
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| Coupon: | 1.3437% over the term of the notes, payable quarterly if the index closes at or above coupon barrier on the corresponding review date
|
| Price: | Par
|
| Payout at maturity: | Par if the index finishes at or above its coupon barrier; if the index finishes below its coupon barrier but at or above its trigger value, par; otherwise, investors will be fully exposed to index decline from its initial level
|
| Initial level: | 4,395.26
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| Coupon barrier: | 3,296.445; 75% of initial level
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| Trigger level: | 2,637.156; 60% of initial level
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
|
| Cusip: | 48132UJ61
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