By Wendy Van Sickle
Columbus, Ohio, March 22 – JPMorgan Chase Financial Co. LLC priced $3.75 million of 0% autocallable notes due March 25, 2021 linked to the MSCI Emerging Markets index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus an annual premium of 10.55% if each index closes at or above its initial level on any annual observation date. The call level will equal the initial level on the first observation date and will step down by 5% each year.
The payout at maturity will be par unless either index finishes below the 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
.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 notes
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| Underlying indexes: | MSCI Emerging Markets and S&P 500
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| Amount: | $3.75 million
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| Maturity: | March 25, 2021
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus 10.55% annualized premium if each index closes at or above call level on any annual observation date; the call level is 100% of the initial level on the first observation date and steps down by 5% each year
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case 1% loss for each 1% decline of worse performing index from initial level
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| Initial levels: | 1,209.89 for Emerging Markets, 2,716.94 for S&P
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| Trigger levels: | 846.923 for Emerging Markets, 1,901.858 for S&P, 70% of initial levels
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| Pricing date: | March 20
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| Settlement date: | March 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48129MEG7
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