By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – JPMorgan Chase Financial Co. LLC priced $2 million of autocallable contingent interest notes due Dec. 27, 2019 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 9.5% if the fund at or above its trigger value, 60% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if the fund closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless the fund finishes below its trigger value, in which case investors will lose 1% for every 1% that the fund finishes below its initial level.
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 ETF: | VanEck Vectors Gold Miners
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| Amount: | $2,001,000
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| Maturity: | Dec. 27, 2019
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| Coupon: | 9.5% annualized, payable quarterly if fund closes at or above trigger on review date for that quarter
|
| Price: | Par
|
| Call: | At par plus contingent coupon if fund closes at or above initial level on any quarterly review date other than final date
|
| Payout at maturity: | Par unless fund finishes below trigger level, in which case full exposure to any losses
|
| Initial level: | $19.09
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| Trigger level: | $11.454, 60% of initial level
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
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| Cusip: | 46646QFE0
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