By Wendy Van Sickle
Columbus, Ohio, Oct. 28 – JPMorgan Chase Financial Co. LLC priced $1.25 million of autocallable contingent interest notes due Oct. 31, 2019 linked to the lesser performing of the S&P 500 index and the Russell 2000 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 7.25% if each index closes at or above its coupon barrier level, 65% of its initial level, on the review date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
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 and Russell 2000
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| Amount: | $1,252,000
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| Maturity: | Oct. 31, 2019
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| Coupon: | 7.25% annualized, payable quarterly if each index closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the first and final dates
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| Payout at maturity: | Par unless either index finishes below its trigger level, in which case full exposure to any losses of worse performing index
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| Initial levels: | 2,139.43 for S&P and 1,204.749 for Russell
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| Coupon barrier/triggers: | 1,390.6295 for S&P and 783.08685 for Russell; 65% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.55751%
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| Cusip: | 46646EK84
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