By Wendy Van Sickle
Columbus, Ohio, April 17 – JPMorgan Chase Financial Co. LLC priced $700,000 of autocallable contingent interest notes due April 17, 2022 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the underlying asset closes at or above the coupon barrier – 51% of the initial level – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 20% per year.
If the shares close at or above their initial price on any quarterly review date other than the final date, the notes will be called at par plus the contingent coupon.
The payout at maturity will be par unless the final level is less than its initial level and the underlying asset has ever closed below its 51% trigger price on any day during the life of the notes, in which case investors will be exposed to the level decline from the initial price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying asset: | S&P GSCI Crude Oil Index Excess Return
|
| Amount: | $700,000
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| Maturity: | April 17, 2022
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| Coupon: | 20% per year, payable each quarter that underlying asset closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the final level is less than its initial level and the underlying asset has ever closed below its trigger price on any day during the life of the notes, in which case investors will be exposed to the level decline from the initial price
|
| Call: | Automatically at par plus coupon if shares close at or above 90% of initial price on any quarterly review date other than final date
|
| Initial level: | 73.5526
|
| Call level: | 66.19734, 90% of initial level
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| Coupon barrier: | 37.87959, 51% of initial level
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| Trigger price: | 37.87959, 51% of initial level
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| Strike date: | April 8
|
| Pricing date: | April 15
|
| Settlement date: | April 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.25%
|
| Cusip: | 48130UUP8
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