By Sarah Lizee
Olympia, Wash., Nov. 18 – JPMorgan Chase Financial Co. LLC priced $1.31 million of autocallable contingent interest notes due Nov. 12, 2021 linked to the common stock of Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the trigger level, 82.9% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon at the rate of 8% per year, plus any previously unpaid coupons.
The notes will be automatically called at par plus the coupon, and any 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 82.9% of its initial level, 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: | Home Depot, Inc.
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Amount: | $1,305,000
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Maturity: | Nov. 12, 2021
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Coupon: | 8% per year, payable quarterly if stock closes at or above trigger value on quarterly review date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par plus the coupon, and any previously unpaid coupons, unless the stock finishes below 82.9% of its initial level, in which case investors will lose 1% for every 1% that the stock declines from its initial share price
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Call: | Automatically at par plus coupon and any previously unpaid coupons if the stock closes at or above its initial share price on any quarterly review date other than final review date
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Initial share price: | $232.84
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Trigger level: | $193.02436, 82.9% of initial share price
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Pricing date: | Nov. 8
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Settlement date: | Nov. 14
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48132FM60
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