By Sarah Lizee
Olympia, Wash., April 21 – JPMorgan Chase Financial Co. LLC priced $78,000 of autocallable contingent interest notes due Oct. 20, 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 8.75% per year if each index closes at or above its coupon barrier, 70% 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 first and final ones.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its initial level and either index closes below its trigger value, 70% of its initial level, on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
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: | $78,000
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| Maturity: | Oct. 20, 2021
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| Coupon: | 8.75% 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 initial level and either index closes below its trigger value, on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date other than first and final ones
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| Initial levels: | 1,183.977 for Russell and 2,783.36 for S&P
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| Coupon barriers: | 828.7839 for Russell and 1,948.352 for S&P, or 70% of initial levels
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| Trigger values: | 828.7839 for Russell and 1,948.352 for S&P, or 70% of initial levels
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| Pricing date: | April 15
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| Settlement date: | April 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48132KPV1
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