Chicago, Sept. 5 – JPMorgan Chase Financial Co. LLC priced $2.08 million review notes linked to a WTI crude oil futures contract due Sept. 2, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called if the contract price on a quarterly review date is greater than the initial contract price or, on the final review date, above 63.9% of the initial contract price. Investors will receive par plus a call premium of 2.5% each quarter if the notes are called, or an annualized rate of 20%.
If the notes have not been called, meaning the ending contract price has declined by more than 36.1%, investors will be fully exposed to the losses of the final contract return.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Review notes
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| Underlier: | WTI crude oil futures contract
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| Amount: | $2,075,000
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| Maturity: | Sept. 2, 2020
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final contract price is above 63.9% of initial level, par plus 10%, otherwise full exposure to losses
|
| Call: | Automatically at par plus premium at annualized rate of 10% if contract price is above initial level on first three quarterly review dates or above 63.9% on final review date
|
| Initial price: | $55.23
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| Trigger price: | 63.9% of initial level
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| Pricing date: | Aug. 14
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| Settlement date: | Aug. 19
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
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| Cusip: | 48130URW7
|
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