By Wendy Van Sickle
Columbus, Ohio, July 24 – JPMorgan Chase Financial Co. LLC priced $1.89 million of autocallable contingent interest notes due July 23, 2021 linked to the least performing of the Russell 2000 index, the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the iShares MSCI EAFE exchange-traded fund, 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 an annual rate of 7.5% if each component closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each component closes at or above its initial level on any quarterly review other than the first, second, third and final dates.
The payout at maturity will be par unless any component finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | Russell 2000 index, SPDR S&P Oil & Gas Exploration & Production ETF and iShares MSCI EAFE ETF
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| Amount: | $1,889,000
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| Maturity: | July 23, 2021
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| Coupon: | 7.5% annualized, payable each quarter that each underlying component closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any component falls below trigger level, in which case 1% loss for each 1% decline of worst performer
|
| Call: | At par plus contingent coupon if each component closes at or above initial level on any quarterly review date other than the first, second, third and final dates
|
| Initial levels: | 1,442.354 for index, $32.04 for Oil & Gas and $66.81 for iShares EAFE
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| Coupon barrier/triggers: | 856.4124 for index, $19.224 for Oil & Gas and $40.086 for iShares EAFE; 60% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.65%
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| Cusip: | 46647MWJ8
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