By Emma Trincal
New York, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $1.4 million of autocallable contingent interest notes due Oct. 21, 2021 linked to the lesser performing of the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a quarterly coupon at an annual rate of 7.5% if each fund closes at or above its interest barrier level, 75% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any quarterly review date other than the first, second, third and final dates.
The payout at maturity will be par plus the final coupon unless either fund finishes below its 75% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing fund.
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 ETFs: | Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
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| Amount: | $1.4 million
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| Maturity: | Oct. 20, 2021
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| Coupon: | 7.5% annualized, payable quarterly if each fund closes above its interest barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless either ETF finishes below its 75% trigger level, in which case 1% loss for each 1% decline of lesser performing ETF from initial level
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| Call: | At par plus contingent coupon if each ETF closes at or above initial level on any quarterly review date other than the first, second, third and final dates
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| Initial levels: | $177.29 for Invesco QQQ and $280.45 for SPDR S&P 500
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| Interest barrier levels: | $132.9675 for Invesco QQQ and $210.3375 for SPDR S&P 500, 75% of initial levels
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| Trigger levels: | $132.9675 for Invesco QQQ and $210.3375 for SPDR S&P 500, 75% of initial levels
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.85%
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| Cusip: | 48130UG58
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