By Taylor Fox
New York, Nov. 6 – JPMorgan Chase Financial Co. LLC priced $1.66 million of autocallable contingent interest notes due Oct. 27, 2021 linked to the common stock of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 21.5% if the stock closes above its 80% coupon barrier level on the relevant review date. Payments will include previously unpaid coupons.
If the stock closes above its initial level on any quarterly review date, the notes will be automatically called at par plus the contingent interest payment and previously unpaid coupons.
The payout at maturity will be par plus any contingent interest payment if the final level of the stock closes at or above its final barrier, 80% of its initial price.
Otherwise, investor will be full exposed to the decline of the stock.
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 stock: | FedEx Corp.
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| Amount: | $1,660,000
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| Maturity: | Oct. 27, 2021
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| Coupon: | 21.5% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period; payments include previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if stock finishes above final barrier; otherwise full exposure to losses of stock
|
| Call: | At par plus interest payment(s) due if stock finishes above initial level on quarterly review date
|
| Initial price: | $271.55
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| Coupon barrier price: | $217.24, 80% of initial price
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| Final barrier price: | $217.24, 80% of initial price
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| Pricing date: | Oct. 9
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| Settlement date: | Oct. 15
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132PMV3
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