By Wendy Van Sickle
Columbus, Ohio, Sept. 23 – JPMorgan Chase Financial Co. LLC priced $565,000 of autocallable contingent interest notes due Sept. 23, 2021 linked to the common stock of Delta Air Lines, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Delta stock closes at or above the trigger level, 70% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon at the rate of 9% per year.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless Delta stock finishes below its trigger value, in which case investors will be exposed to the stock’s decline.
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: | Autocallable contingent interest notes
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| Underlying stock: | Delta Air Lines, Inc.
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| Amount: | $565,000
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| Maturity: | Sept. 23, 2021
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| Coupon: | If Delta stock closes at or above trigger value on quarterly review date, notes pay contingent coupon at rate of 9% per year
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| Price: | Par
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| Payout at maturity: | Par unless Delta stock finishes below trigger value, in which case investors will be exposed to the stock’s decline
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than first and final ones
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| Initial share price: | $58.69
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| Trigger level: | $41.083, or 70% of initial share price
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| Pricing date: | Sept. 19
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| Settlement date: | Sept. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132FMS2
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