By Wendy Van Sickle
Columbus, Ohio, Nov. 14 – JPMorgan Chase Financial Co. LLC priced $725,000 of autocallable contingent interest notes due Dec. 10, 2020 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.
Each month, the notes will pay a contingent coupon at the rate of 5.75% per year if each index closes at or above its trigger value, 70% of its initial level, on the review date for that month.
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 call review date after six months.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its initial level and either index has ever closed below its trigger value on any day during the life of the notes, 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $725,000
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| Maturity: | Dec. 10, 2020
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| Coupon: | 5.75% per year, payable monthly if each index closes at or above trigger value on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its initial level and either index has ever closed below its trigger value on any day during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date after six months
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| Initial levels: | 3,076.78 for S&P 500 and 1,589.542 for Russell 2000
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| Trigger values: | 2,153.746 for S&P 500 and 1,112.6794 for Russell 2000, or 70% of initial levels
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| Pricing date: | Nov. 6
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| Settlement date: | Nov. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132F2H8
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