By Wendy Van Sickle
Columbus, Ohio, Dec. 27 – JPMorgan Chase Financial Co. LLC priced $1.1 million of autocallable contingent interest notes due Dec. 23, 2021 linked to the least performing of the iShares MSCI EAFE exchange-traded fund, the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 7% per year if each underlying asset closes at or above its interest barrier, 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 underlying asset closes at or above its initial level on any quarterly review date other than the first, second, third and final review dates.
If the notes have not been called, the payout at maturity will be par unless any underlying asset finishes below its 60% trigger value, in which case investors will lose 1% for every 1% that the least-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: | iShares MSCI EAFE exchange-traded fund, SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and Russell 2000 index
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| Amount: | $1.1 million
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| Maturity: | Dec. 23, 2021
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| Coupon: | 7% per year, payable quarterly if each underlying asset closes at or above interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any underlying asset finishes below trigger value, in which 1% loss for every 1% that least-performing asset finishes below initial level
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| Call: | Automatically at par plus contingent coupon if each underlying asset closes at or above initial level on any quarterly review date other than first, second, third and final dates
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| Initial levels: | $34.81 for oil and gas ETF, $69.80 for iShares MSCI EAFE ETF, 1,536.75 for index
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| Interest barrier/trigger values: | $20.886 for oil and gas ETF, $41.88 for iShares MSCI EAFE ETF, 922.05 for index; 60% of initial levels
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| Pricing date: | Dec. 19
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| Settlement date: | Dec. 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.65%
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| Cusip: | 48129HUX3
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