By Wendy Van Sickle
Columbus, Ohio, Aug. 13 – JPMorgan Chase Financial Co. LLC priced $4.4 million of autocallable contingent interest notes due Aug. 26, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8.12% per year, plus any previously unpaid coupons, if the index closes at or above the trigger level, 80% of the initial level, on the review date for that quarter.
The notes will be automatically called at par if the index closes at or above its initial level on any quarterly review date other than the final review date.
The payout at maturity will be par unless the index finishes below the trigger level, in which case investors will be fully exposed to the index’s decline from 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.
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| Issue: | Autocallable contingent interest notes
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| Underlying index: | S&P 500 index
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| Amount: | $4,395,000
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| Maturity: | Aug. 26, 2020
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| Coupon: | 8.12% per year, payable quarterly if index closes at or above trigger level on review date for that quarter, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless final level is less than trigger level, in which case exposure to index’s decline from initial level
|
| Call: | Automatically at par if index closes at or above initial level on any quarterly review date other than final one
|
| Initial level: | 2,918.65
|
| Trigger value: | 2,334.92, 80% of initial level
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| Ending level: | Average of closing levels on five trading days ending Aug. 21, 2020
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| Pricing date: | Aug. 9
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| Settlement date: | Aug. 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132CY23
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