By Sarah Lizee
Olympia, Wash., March 17 – JPMorgan Chase Financial Co. LLC priced $485,000 of autocallable contingent interest notes due March 31, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.5% if the index closes at or above its 80% coupon barrier on the review date for that quarter, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par plus the final coupon and any previously unpaid coupons unless the index finishes below its 80% trigger level, in which case investors will be fully exposed to any losses.
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 index: | S&P 500 index
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| Amount: | $485,000
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| Maturity: | March 31, 2021
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| Coupon: | 15.75% annualized, payable quarterly if index closes at or above coupon barrier on review date for that quarter, in which case a coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon and any previously unpaid coupons unless the index finishes below its trigger level, in which case investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon and any previously unpaid coupons if index closes at or above initial level on any review date other than final date
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| Initial level: | 2,746.56
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| Coupon barrier level: | 80% of initial level
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| Trigger level: | 80% of initial level
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| Pricing date: | March 10
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| Settlement date: | March 13
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132KHH1
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