By Kiku Steinfeld
Chicago, Nov. 7 – JPMorgan Chase Financial Co. LLC priced $1.07 million of autocallable contingent interest notes due Jan. 22, 2021 linked to the lesser performing of the Russell 2000 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.
The notes will pay a contingent quarterly coupon at an annual rate of 7.65% if each index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first and final ones.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 70% trigger level any day during the life of the notes and the final value of either index is less than its initial value, in which case investors will lose 1% for each 1% decline of the worse-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $1,072,000
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| Maturity: | Jan. 22, 2021
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| Coupon: | 7.65% annualized, payable quarterly if each underlying index closes at or above coupon barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either index finishes below its 70% trigger level any day during the life of the notes and the final value of either index is less than its initial value, in which case investors will lose 1% for each 1% decline of the worse-performing index
|
| Call: | Par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first and final ones
|
| Initial levels: | 1,535.482 for Russell and 3,579.41 for Euro Stoxx
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| Coupon/interest barriers: | 1,074.8374 for Russell and 2,505.587 for Euro Stoxx; 70% of initial levels
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| Trigger levels: | 1,074.8374 for Russell and 2,505.587 for Euro Stoxx; 70% of initial levels
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| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
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| Cusip: | 48132FXY7
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