By Wendy Van Sickle
Columbus, Ohio, Dec. 29 – JPMorgan Chase Financial Co. LLC priced $130,000 of autocallable contingent interest notes due Dec. 27, 2019 linked to the lesser performing of the S&P 500 index and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at a rate of 5.4% a year if each asset closes at or above its trigger value, 60% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly review first, second, third and final review dates.
If the notes have not been called, the payout at maturity will be par unless either asset finishes below its trigger value, in which case investors will lose 1% for every 1% that the lesser-performing asset finishes below its initial level.
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 assets: | S&P 500 index, the Energy Select Sector SPDR fund
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| Amount: | $130,000
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| Maturity: | Dec. 27, 2019
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| Coupon: | 5.4% annualized, payable quarterly if each asset closes at or above 60% trigger on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either asset finishes below trigger, in which case 1% loss for each 1% decline of worse performing asset
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| Call: | At par plus contingent coupon if either underlying closes at or above initial level on any review date other than first, second, third and final dates
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| Initial levels: | 2,265.18 for index, $76.11 for fund
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| Coupon barrier/triggers: | 1,359.108 for index, $45.666 for fund; 60% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 46646QJM8
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