By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – JPMorgan Chase Financial Co. LLC priced $1.1 million of autocallable contingent interest notes due Nov. 21, 2022 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.
Each quarter, the notes will pay a contingent coupon at the rate of 6% per year if each index closes at or above its interest barrier, 64% 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 index 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 either index finishes below its trigger value, 64% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index 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
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $1,104,000
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| Maturity: | Nov. 21, 2022
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| Coupon: | 6% per year, payable quarterly if each index closes at or above interest barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger value, in which case 1% loss for every 1% that lesser-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first, second, third and final ones
|
| Initial index levels: | 2,585.64 for S&P 500 and 1,486.881 for Russell 2000
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| Barriers/triggers: | 1,654.8096 for S&P 500 and 951.60384 for Russell 2000, or 64% of initial levels
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
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| Cusip: | 48129HPK7
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