By Taylor Fox
New York, Aug. 30 – JPMorgan Chase Financial Co. LLC priced $12.65 million of trigger autocallable contingent yield notes due Feb. 29, 2024 linked to the lesser performing of the MSCI Emerging Markets index and the Euro Stoxx 50 index, 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 the rate of 7.2% per year if the lowest performing index close at or above the coupon barrier, 70% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par of $10 if the lowest performing index close at or above the initial share price on any quarterly observation date after six months.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 70% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | MSCI Emerging Markets index and Euro Stoxx 50 index
|
| Amount: | $12,646,060
|
| Maturity: | Feb. 29, 2024
|
| Contingent coupon: | 7.2% annual rate, payable quarterly if lowest performing index closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless lowest performing index finishes below downside threshold level, in which case 1% loss for each 1% decline from initial price
|
| Call: | Automatically at par if lowest performing index closes at or above initial level on any quarterly observation date after six months
|
| Initial prices: | 1,376.76 for MSCI and 3,705.99 for Stoxx
|
| Coupon barrier/threshold levels: | 963.73 for MSCI and 2,594.19 for Stoxx, 70% of initial levels
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 26
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48132Q243
|
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