By Devika Patel
Knoxville, Tenn., Dec. 27 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Dec. 4, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 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 11.05% if each index closes at or above its coupon level, 70% of its initial level, on the review date for that quarter.
Beginning on Feb. 28, 2019, the notes will be 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 final one.
The payout at maturity will be par plus the final coupon, unless either index finishes below its initial level and either index closes below the 70% trigger level during the life of the notes, in which case investors will lose 1% for each 1% decline of the worse performing index from 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: | Russell 2000, S&P 500
|
| Amount: | $1 million
|
| Maturity: | Dec. 4, 2019
|
| Coupon: | 11.05% annualized, payable quarterly if each underlying index closes at or above coupon barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, unless either index finishes below initial level and closes below trigger level during life of the notes, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the final one beginning Feb. 28, 2019
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| Initial levels: | 1,525.387 for Russell, 2,737.76 for S&P
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| Coupon/trigger levels: | 1,067.7709 for Russell, 1,916.432 for S&P; 70% of initial levels
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 4
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.725%
|
| Cusip: | 48130WEH0
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