By Susanna Moon
Chicago, Nov. 1 – JPMorgan Chase Financial Co. LLC priced $1.67 million of trigger autocallable contingent yield notes due Oct. 22, 2021 linked to Colgate-Palmolive Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7% if the stock closes at or above its 78.5% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its 78.5% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | J.P. Morgan Securities LLC
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Colgate-Palmolive Co. (Symbol: CL)
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| Amount: | $1,668,000
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| Maturity: | Oct. 22, 2021
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| Coupon: | 7% annualized, payable quarterly if stock closes at or above its 78.5% coupon barrier on the observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above trigger level, par; otherwise, 1% loss per 1% decline
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| Call: | At par if stock closes at or above its initial level on each quarterly observation date after six months
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| Initial level: | $64.52
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| Downside threshold: | $50.65, 78.5% of initial level
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| Pricing date: | Oct. 19
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| Settlement date: | Oct. 24
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48130V483
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