By Angela McDaniels
Tacoma, Wash., Sept. 25 – JPMorgan Chase Financial Co. LLC priced $1.45 million of autocallable contingent interest notes due Sept. 24, 2021 linked to the least performing of the Russell 2000 index, the iShares MSCI EAFE exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production 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 the rate of 7.2% per year if each underlier closes at or above its trigger value, 60% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly review date other than the first, second, third and final review dates.
If the notes have not been called, the payout at maturity will be par unless any underlier finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing underlier finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underliers: | Russell 2000 index, iShares MSCI EAFE ETF and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1,453,000
|
| Maturity: | Sept. 24, 2021
|
| Coupon: | 7.2% per year, payable quarterly if each underlier closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlier finishes below trigger value, in which case 1% loss for every 1% that least-performing underlier finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly review date other than first, second, third and final review dates
|
| Initial levels: | 1,444.184 for index, $68.18 for EAFE ETF and $32.91 for oil and gas ETF
|
| Trigger values: | 866.5104 for index, $40.908 for EAFE ETF and $19.746 for oil and gas ETF; 60% of initial levels
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.65%
|
| Cusip: | 46647M6E8
|
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