By Kiku Steinfeld
Chicago, March 9 – JPMorgan Chase Financial Co. LLC priced $4.58 million of autocallable contingent interest notes due March 17, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay contingent interest at an annual rate of 8.8% (plus any previously unpaid coupons) if the index closes at or above its 80% interest barrier on the related quarterly review date.
The notes will be called at par plus the contingent interest payment (plus any previously unpaid coupons) if the index closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par plus the coupon (any unpaid coupons) unless the average of the index’s closing levels on the five consecutive trading days ending March 12, 2021 is less than the 80% trigger level, in which case investors will be fully exposed to any losses of the index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying index: | S&P 500
|
| Amount: | $4,575,000
|
| Maturity: | March 17, 2021
|
| Contingent Interest Payment: | 8.8% plus any previously unpaid coupons, payable each quarter that the index closes at or above its interest barrier on the related quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon and any unpaid coupons unless the average of the index’s closing levels on the five consecutive trading days ending March 12, 2021 is less than the 80% trigger level, in which case investors will be fully exposed to any losses of the index
|
| Call: | Automatically at par plus the contingent interest payment plus any previously unpaid coupons if the index closes at or above its initial level on any quarterly review date other than the final date
|
| Initial level: | 2,978.76
|
| Interest barrier: | 80% of initial level
|
| Trigger level: | 80% of initial level
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132KBB0
|
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