By Sarah Lizee
Olympia, Wash., Aug. 22 – JPMorgan Chase Financial Co. LLC priced $1.13 million of autocallable contingent interest notes due Feb. 25, 2021 linked to the lesser performing of the Nasdaq-100 index and 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 6.65% if each index closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each 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 any contingent coupon due unless either index falls by more than 30% during the life of the notes and either index is less than its initial value, in which case investors will receive par plus the index return plus any contingent interest payment due.
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: | Nasdaq-100 index and S&P 500 index
|
| Amount: | $1,125,000
|
| Maturity: | Feb. 25, 2021
|
| Coupon: | 6.65% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless either index falls by more than 30% during the life of the notes and either finishes below its initial value, in which case par plus index return plus any contingent coupon due
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than final date
|
| Initial levels: | 7,664.471 for Nasdaq-100 and 2,900.51 for S&P
|
| Coupon barriers/trigger levels: | 5,365.1297 for Nasdaq-100 and 2,030.357 for S&P, 70% of initial levels
|
| Pricing date: | Aug. 20
|
| Settlement date: | Aug. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48132CX24
|
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