By Sarah Lizee
Olympia, Wash., Nov. 1 – JPMorgan Chase Financial Co. LLC priced $501,000 of autocallable contingent interest notes due Nov. 3, 2021 linked to the least performing of the shares of American Airlines Group Inc., Delta Air Lines, Inc. and Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.7% if each stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | American Airlines Group Inc., Delta Air Lines, Inc. and Southwest Airlines Co.
|
| Amount: | $501,000
|
| Maturity: | Nov. 3, 2021
|
| Coupon: | 12.7% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than final date
|
| Initial levels: | $32.60 for American, $53.42 for Delta, $47.91 for Southwest
|
| Coupon barriers/trigger levels: | $19.56 for American, $32.052 for Delta, $28.746 for Southwest; 60% of initial levels
|
| Pricing date: | Oct. 29
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| Settlement date: | Nov. 1
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48130UK87
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