By Sarah Lizee
Olympia, Wash., Jan. 14 – JPMorgan Chase Financial Co. LLC priced $1.2 million of autocallable contingent income notes due Jan. 14, 2020 linked to a WTI Crude Oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.05% if the price 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 crude closes at or above the initial price on a quarterly review date other than the final date.
The payout at maturity will be par plus the contingent coupon unless the price 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: | WTI Crude Oil futures contract
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Amount: | $1.2 million
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Maturity: | Jan. 14, 2020
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Coupon: | 13.05% payable quarterly if crude closes at or above 75% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless crude 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 crude closes at or above initial price on a quarterly review date other than the final date
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Initial level: | $52.22
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Trigger level: | $39.165, 75% of initial level
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Pricing date: | Jan. 10
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Settlement date: | Jan. 14
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Underwriters: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48130UPX7
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