By Sarah Lizee
Olympia, Wash., March 26 – JPMorgan Chase Financial Co. LLC priced $1.75 million of autocallable contingent interest notes due March 18, 2021 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.6% per year if each index closes at or above its coupon barrier, 80% of its initial level, on the associated review date.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its buffer value, 80% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines beyond the buffer.
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 indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $1.75 million
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| Maturity: | March 18, 2021
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| Coupon: | 7.6% per year, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its buffer value, in which case investors will lose 1% for every 1% that the least-performing index declines beyond the buffer
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date other than the final one
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| Initial levels: | 1,210.135 for Russell and 2,711.02 for S&P
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| Coupon barriers: | 968.108 for Russell and 2,168.816 for S&P, or 80% of initial levels
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| Buffer values: | 968.108 for Russell and 2,168.816 for S&P, or 80% of initial levels
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| Pricing date: | March 13
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| Settlement date: | March 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.35%
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| Cusip: | 48132KJM8
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