By Angela McDaniels
Tacoma, Wash., Aug. 27 – JPMorgan Chase Financial Co. LLC priced $1.01 million of autocallable contingent interest notes due Sept. 10, 2020 linked to the common stock of Skyworks Solutions, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Skyworks stock closes at or above the trigger level, 65% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon at the rate of 15% per year plus any previously unpaid contingent interest payments.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless the stock finishes below its trigger level, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.
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 stock: | Skyworks Solutions, Inc. (Symbol: SWKS)
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| Amount: | $1,005,000
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| Maturity: | Sept. 10, 2020
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| Coupon: | If Skyworks stock closes at or above trigger value on quarterly review date, notes pay contingent coupon at rate of 15% per year plus any previously unpaid contingent interest payments
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger level, in which case 1% loss for every 1% that stock finishes below initial share price
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than final one
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| Initial share price: | $73.55
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| Final share price: Average of stock’s closing share prices on five trading days ending Sept. 4, 2020
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| Trigger level: | $47.8075, 65% of initial share price
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| Pricing date: | Aug. 23
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| Settlement date: | Aug. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132FDF0
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