By Angela McDaniels
Tacoma, Wash., Sept. 27 – JPMorgan Chase Financial Co. LLC priced $777,000 of autocallable contingent interest notes due Sept. 30, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF closes at or above the buffer threshold, 85% of the initial share price, on a monthly review date, the notes will pay a contingent coupon at the rate of 10% per year.
The notes will be automatically called at par if the ETF closes at or above the initial share price on any monthly 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 the ETF finishes below the buffer threshold, in which case investors will lose 1% for every 1% that the ETF declines beyond 15%.
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 ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $777,000
|
| Maturity: | Sept. 30, 2021
|
| Coupon: | 10% per year, payable monthly if ETF closes at or above buffer threshold on monthly review date
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below buffer threshold, in which case 1% loss for every 1% that stock declines beyond 15%
|
| Call: | Automatically at par plus contingent coupon if ETF closes at or above initial share price on any monthly review date other than first, second, third and final ones
|
| Initial share price: | $23.08
|
| Buffer threshold: | $19.618, 85% of initial share price
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.4397%
|
| Cusip: | 48132FHF6
|
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