By Sarah Lizee
Olympia, Wash., Dec. 9 – JPMorgan Chase Financial Co. LLC priced $1.27 million of autocallable contingent interest notes due Nov. 30, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF closes at or above the buffer level, 85% of the initial share price, on a monthly review date, the notes will pay a contingent coupon that month at the rate of 10% per year.
The notes will be automatically called at par if the ETF closes at or above the initial share price on any monthly review date other than the first, second and final dates.
If the notes have not been called, the payout at maturity will be par unless the final share price is less than the buffer level, in which case investors will lose 1% for every 1% that the ETF declines beyond 15%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,266,000
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| Maturity: | Nov. 30, 2021
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| Coupon: | If ETF closes at or above buffer level on monthly review date, notes pay contingent coupon at rate of 10% per year
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below buffer level, in which case 1% loss for every 1% that ETF declines beyond 15%
|
| Call: | Automatically at par if ETF closes at or above initial share price on any monthly review date other than the first, second and final dates
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| Initial share price: | $21.23
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| Trigger level: | $18.0455, 85% of initial share price
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| Pricing date: | Nov. 25
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| Settlement date: | Nov. 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.4839%
|
| Cusip: | 48132F5E2
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