Chicago, Oct. 15 – JPMorgan Chase Financial Co. LLC priced $2.59 million of autocallable contingent interest notes due Oct. 15, 2020 linked to the common stock of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If FedEx stock closes at or above the trigger level, 75% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon at the rate of 13.36% per year, and also include any previously unpaid coupons.
The notes will be automatically called at par plus the coupon, and previously unpaid coupons, if the stock closes at or above its initial share price on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par plus the coupon and any previously unpaid coupons unless the stock finishes below 70% of its initial level on the five ending averaging days, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.
The notes are guaranteed by JPMorgan Chase & Co.
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: | $2,589,000
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| Maturity: | Oct. 15, 2020
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| Coupon: | 13.36% per year, payable quarterly including previously unpaid coupons if FedEx stock closes at or above trigger value on quarterly review date
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below 70% of its initial level on the five consecutive ending averaging dates ending Oct. 9, 2020, in which case investors will lose 1% for every 1% that the stock declines from its initial share price
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than final one
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| Initial share price: | $144.96
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| Trigger level: | $108.72, 75% of initial share price
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| Pricing date: | Sept. 27
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| Settlement date: | Oct. 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132FNS1
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