By Sarah Lizee
Olympia, Wash., Jan. 16 – JPMorgan Chase Financial Co. LLC priced $1.03 million of autocallable contingent interest notes due Jan. 20, 2021 linked to a Brent crude oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 9.3% per year if the asset closes at or above the trigger value, 70% of its initial share price, on the review date for that quarter, in which case investors will also receive any previously unpaid coupons.
The notes will be automatically called at par if the asset closes at or above 105% of its initial share price on any review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless the asset finishes below the trigger value, in which case investors will be exposed to the asset’s decline from its initial share 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: | Autocallable contingent interest notes
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| Underlying asset: | Brent crude oil futures contract
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| Amount: | $1,025,000
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| Maturity: | Jan. 20, 2021
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| Coupon: | 9.3% per year, payable quarterly if stock closes at or above trigger value on review date for that quarter, in which case investors will also receive any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger value, in which 1% loss for every 1% that stock finishes below initial share price
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| Call: | Automatically at par plus contingent coupon if stock closes at or above 105% of initial share price on any quarterly review date other than final one
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| Initial contract price: | $64.49
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| Trigger value: | $45.143, or 70% of initial contract price
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48130UTK1
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