By Sarah Lizee
Olympia, Wash., Oct. 4 – JPMorgan Chase Financial Co. LLC priced $1.78 million of autocallable contingent interest notes due March 29, 2021 linked to the lesser performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.3% if each index closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the first and final ones.
If the notes have not been called, the payout at maturity will be par unless either index closes below its 70% trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Russell 2000 index and Dow Jones industrial average
|
| Amount: | $1,781,000
|
| Maturity: | March 29, 2021
|
| Coupon: | 7.3% annualized, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below its trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than the first and final ones
|
| Initial levels: | 26,807.77 for Dow, 1,533.586 for Russell
|
| Coupon barriers/trigger values: | 18,765.439 for Dow, 1,073.5102 for Russell, 70% of initial levels
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132FKZ8
|
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