By Wendy Van Sickle
Columbus, Ohio, Dec. 15 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Dec. 18, 2019 linked to the lesser performing of the S&P 500 index and the Vanguard Total Stock Market exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 5.5% if each asset closes at or above its trigger value, 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 index closes at or above its initial level on any quarterly review date after one year.
If the notes have not been called, the payout at maturity will be par unless either asset finishes below its trigger value, in which case investors will lose 1% for every 1% that the lesser-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: | Callable contingent interest notes
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| Underlying assets: | S&P 500 index and Vanguard Total Stock Market ETF
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| Amount: | $1 million
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| Maturity: | Dec. 18, 2019
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 5.5% if each asset closes at or above trigger level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either asset finishes below trigger level, in which case 1% loss for each 1% decline of lesser-performing asset
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly review date after one year
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| Initial levels: | 2,271.72 for index and $117.53 for ETF
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| Trigger levels: | 1,363.032 for index and $70.518 for ETF; 60% of initial levels
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| Pricing date: | Dec. 13
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| Settlement date: | Dec. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 46646QEX9
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