By Kiku Steinfeld
Chicago, Dec. 29 – JPMorgan Chase Financial Co. LLC priced $1.51 million of autocallable contingent interest notes due Dec. 5, 2022 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 quarter, the notes will pay a contingent coupon at the rate of 6.5% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on the review date for that period.
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.
If the notes have not been called, the payout at maturity will be par if both indexes finish above their initial levels. Investors will receive par if neither index ever closes below its 60% trigger level during the life of the notes.
Otherwise, investors will be fully exposed to the losses of the worst performer.
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.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,508,000
|
| Maturity: | Dec. 5, 2022
|
| Coupon: | 6.5% per year, payable quarterly if each index closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if both indexes close above initial levels; par if neither index ever closes below trigger level during life of notes; otherwise, full exposure to losses of worst performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call review date
|
| Initial levels: | 2,198.908 for Russell and 4,567.00 for S&P
|
| Coupon barrier levels: | 1,319.3448 for Russell and 2,740.20 for S&P, or 60% of initial levels
|
| Trigger levels: | 1,319.3448 for Russell and 2,740.20 for S&P, or 60% of initial levels
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.725%
|
| Cusip: | 48132Y3V5
|
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