By Marisa Wong
Morgantown, W.Va., Sept. 29 – JPMorgan Chase Financial Co. LLC priced $945,000 of callable contingent interest notes due Sept. 29, 2021 linked to the lesser performing of the Alerian MLP index and the VanEck Vectors Oil Services 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 pay a contingent coupon at an annual rate of 7.75% if each underlier closes at or above its coupon barrier, 60% of its initial level, on the review date for that quarter.
The notes are callable in whole but not in part at par plus the contingent coupon, if any, on any interest payment date other than the first and final dates.
If the notes have not been called, the payout at maturity will be par plus the contingent coupon unless either underlier finishes below its trigger value, 60% of its initial level, in which case investors will lose 1% for each 1% decline of the least-performing underlier from 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: | Callable contingent interest notes
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| Underlyings: | Alerian MLP index and the VanEck Vectors Oil Services ETF
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| Amount: | $945,000
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| Maturity: | Sept. 29, 2021
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| Coupon: | 7.75% per year, payable each quarter that each underlier closes at or above its coupon barrier on the review date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus the contingent coupon unless either underlier finishes below its trigger value, in which case investors will lose 1% for each 1% decline of the least-performing underlier from its initial level
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| Call option: | In whole but not in part at par plus the contingent coupon, if any, on any interest payment date other than the first and final dates
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| Initial values: | 279.5566 for index and $25.21 for ETF
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| Coupon barriers: | 167.73396 for index and $15.126 for ETF, 60% of initial values
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| Trigger values: | 167.73396 for index and $15.126 for ETF, 60% of initial values
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 46647M5Z2
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