By Wendy Van Sickle
Columbus, Ohio, Oct. 7 – JPMorgan Chase Financial Co. LLC priced $976,000 of 10.5% autocallable yield notes due Dec. 10, 2020 linked to the common stock of Ulta Beauty, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable quarterly.
The notes will be automatically redeemed at par plus the coupon if Ulta shares close at or above the initial share price any quarterly review date starting after six months.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the initial level and the stock closes below the trigger value, 70% of the initial share price, during the life of the notes, in which case investors will lose 1% for each 1% decline in the share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying stock: | Ulta Beauty, Inc.
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| Amount: | $976,000
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| Maturity: | Dec. 29, 2020
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| Coupon: | 10.5%, payable quarterly
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| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than initial price and stock closes below trigger value during life of notes, in which case 1% loss for each 1% decline in share price
|
| Call: | Automatically at par plus coupon if closing share price is greater than or equal to initial share price on quarterly review date starting March 23, 2020
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| Initial share price: | $237.31
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| Trigger price: | $166.117, 70% of initial share price
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 26
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132FMP8
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