By Susanna Moon
Chicago, Nov. 9 – JPMorgan Chase Financial Co. LLC priced $620,000 of autocallable contingent interest notes due Nov. 8, 2021 linked to the lesser performing of the SPDR S&P 500 exchange-traded fund trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent semiannual coupon at an annual rate of 7% if each fund closes at or above its coupon barrier level, 60% of its initial level, on the review date for that period.
The notes will be called at par if each fund closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless either fund finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse 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 funds: | SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF
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| Amount: | $620,000
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| Maturity: | Nov. 8, 2021
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| Coupon: | 7% annualized, payable semiannually if each fund closes at or above 60% coupon barrier on review date for that period
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| Price: | Par
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| Call: | At par plus contingent coupon if each fund closes at or above initial level on any review date other than the first and final dates
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| Payout at maturity: | Par unless either fund finishes below its trigger level, in which case full exposure to any losses of worse performing index
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| Initial levels: | $208.78 for S&P fund and $115.00 for Russell fund
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| Trigger levels: | $125.268 for S&P fund and $69.00 for Russell fund; 60% of initial levels
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| Pricing date: | Nov. 3
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| Settlement date: | Nov. 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646E5P3
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