By Susanna Moon
Chicago, March 9 – JPMorgan Chase Financial Co. LLC priced $1.93 million of autocallable contingent interest notes due Feb. 26, 2021 linked to the common stocks of U.S. Bancorp and of Fifth Third Bancorp, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.45% if each stock closes at or above its 75% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless either stock finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.
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 assets: | U.S. Bancorp (Symbol: USB) and Fifth Third Bancorp (Symbol: FITB)
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| Amount: | $1,932,000
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| Maturity: | Feb. 26, 2021
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| Coupon: | 8.45% annualized, payable quarterly if each stock closes at or above 75% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either stock finishes below trigger, in which case 1% loss for each 1% decline of worse performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than final date
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| Initial levels: | $55.49 for U.S. Bancorp and $33.45 for Fifth Third
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| Trigger levels: | $41.6175 for U.S. Bancorp and $25.0875 for Fifth Third, 75% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 48129H4E4
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