By Wendy Van Sickle
Columbus, Ohio, Oct. 12 – JPMorgan Chase Financial Co. LLC priced $2.98 million of contingent income autocallable securities due Oct. 9, 2020 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.
If the ETF closes at or above the downside threshold level, 75% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 9%.
The notes will be called at par of $10 plus the contingent coupon if the ETF closes at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying ETF: | VanEck Vectors Gold Miners exchange-traded fund
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| Amount: | $2,982,550
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| Maturity: | Oct. 3, 2019
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| Contingent payment: | 9% annualized, payable quarterly if ETF closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if ETF finishes at or above downside threshold; otherwise full exposure to any losses
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| Call: | At par plus contingent payment if ETF closes at or above initial level on any determination date other than final one
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| Initial ETF level: | $23.59
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| Downside threshold: | $17.6925, 75% of initial level
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 12
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| Agents: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC handling distribution
|
| Fees: | 2.5%
|
| Cusip: | 48129J327
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