By Marisa Wong
Morgantown, W.Va., Oct. 7 – JPMorgan Chase Financial Co. LLC priced $408,000 of autocallable contingent interest notes due Oct. 2, 2019 linked to the lesser performing of the S&P 500 index and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.5% if each underlying closes at or above its coupon barrier level, 60% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each underlying closes at or above its initial level on any quarterly review date other than the first, second, third and final review dates.
If the notes have not been called and both underlyings finish at or above their 60% trigger values, the payout at maturity will be par.
Otherwise investors will lose 1% for each 1% decline of the lesser-performing underlying.
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: | Autocallable contingent interest notes
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Underlying components: | S&P 500 index and Energy Select Sector SPDR fund
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Amount: | $408,000
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Maturity: | Oct. 2, 2019
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Coupon: | 6.5% per year, payable each quarter that each underlying closes at or above coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either underlying finishes below trigger value, in which case 1% loss for each 1% decline of lesser-performing underlying
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Call: | Automatically at par plus contingent coupon if each underlying closes at or above initial level on any quarterly review date other than first, second, third and final dates
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Initial levels: | 2,171.37 for index and $69.78 for fund
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Coupon barrier/trigger: | 1,302.822 for index and $41.868 for fund; 60% of initial levels
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Pricing date: | Sept. 28
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Settlement date: | Sept. 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 46646EH54
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