By Wendy Van Sickle
Columbus, Ohio, March 28 – JPMorgan Chase Financial Co. LLC priced $973,000 of contingent income autocallable securities due Sept. 28, 2020 linked to the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if the fund closes at or above its 75% coupon barrier on the determination date that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless the fund finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.
The guarantor is JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC 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 Oil Services ETF
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| Amount: | $973,000
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| Maturity: | Sept. 28, 2020
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| Coupon: | 9% annualized, payable quarterly if ETF closes at or above 75% coupon barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If ETF finishes at or above downside threshold, par; otherwise, full exposure to losses
|
| Call: | At par if ETF closes at or above initial price on any of the first three determination dates
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| Initial share price: | $24.14
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| Coupon barrier: | $18.105, 75% of initial level
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| Downside threshold: | $18.105, 75% of initial level
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| Pricing date: | March 23
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| Settlement date: | March 28
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management as a distributor
|
| Fees: | 2.5%
|
| Cusip: | 48129L496
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