By Wendy Van Sickle
Columbus, Ohio, July 8 – JPMorgan Chase Financial Co. LLC priced $915,000 of autocallable contingent income notes due July 1, 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 will pay a contingent quarterly coupon at an annual rate of 9.1% if the level of crude futures closes at or above the 75% coupon barrier on a review date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above 95% of the initial level on a quarterly review date other than the final date.
The payout at maturity will be par plus the contingent coupon unless the level of crude futures finish below its 75% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent income notes
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| Underlying asset: | S&P GSCI Crude Oil Index Excess Return
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| Amount: | $915,000
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| Maturity: | July 1, 2022
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| Coupon: | 9.1% payable quarterly if index closes at or above 75% coupon barrier on review date for that quarter
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| Level: | Par
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| Payout at maturity: | Par unless index falls below 75% trigger, in which case par plus return with exposure to loss
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| Call: | At par plus contingent coupon if index closes at or above 95% of initial level on a quarterly review date other than the final date
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| Initial level: | 173.9402
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| Trigger level: | 130.45515, 75% of initial level
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 2.875%
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| Cusip: | 48130URG2
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