By Angela McDaniels
Tacoma, Wash., Sept. 20 – JPMorgan Chase Financial Co. LLC priced $6.63 million of 0% review notes due Oct. 13, 2020 linked to the first nearby month futures contract for Brent crude oil, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 16.8% per year if the contract price is greater than or equal to the initial contract price on Jan. 7, 2020, April 7, 2020 or July 7, 2020.
If the final contract price is at least 30% of the initial contract price, the payout at maturity will be par plus 16.8%. Otherwise, investors will lose 1% for every 1% that the final contract price is less than the initial contract price.
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: | Review notes
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| Underlying commodity: | First nearby month futures contract for Brent crude oil
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| Amount: | $6.63 million
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| Maturity: | Oct. 13, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final contract price is at least 30% of initial contract price, par plus 16.8%; otherwise, 1% loss for every 1% that final contract price is less than initial contract price
|
| Call: | Automatically at par plus call premium of 16.8% per year if contract price is greater than or equal to initial contract price on Jan. 7, 2020, April 7, 2020 or July 7, 2020
|
| Initial oil price: | $64.21 (determined by reference to certain intraday prices of futures contract on pricing date)
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| Final oil price: | Average of contract prices on five trading days ending Oct. 7, 2020
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| Pricing date: | Sept. 18
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| Settlement date: | Sept. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
|
| Cusip: | 48130USC0
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