By Susanna Moon
Chicago, Oct. 23 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Sept. 30, 2021 linked to the least performing of the common stocks of Johnson & Johnson, Gilead Sciences, Inc. and UnitedHealth Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each stock closes at or above its 65% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Johnson & Johnson (Symbol: JNJ), Gilead Sciences, Inc. (Symbol: GILD) and UnitedHealth Group Inc. (Symbol: UNH)
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| Amount: | $500,000
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| Maturity: | Sept. 30, 2021
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| Coupon: | 10% annualized, payable quarterly if each stock closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 65% trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than final date
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| Initial levels: | $77.21 for Gilead, $138.17 for Johnson & Johnson and $266.04 for UnitedHealth
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| Trigger levels: | $50.1865 for Gilead, $89.8105 for Johnson & Johnson and $172.926 for UnitedHealth, 65% of initial levels
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.875%
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| Cusip: | 48130UNB7
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