By Sarah Lizee
Olympia, Wash., Jan. 10 – JPMorgan Chase Financial Co. LLC priced $240,000 of autocallable contingent interest notes due Jan. 6, 2022 linked to the least performing of the lesser performing of the American Depositary Shares of Petróleo Brasileiro SA and Itaú Unibanco Holding SA, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Every six months, the notes will pay a contingent coupon at the rate of 13.3% per year if each asset closes at or above its interest barrier, 65% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each asset closes at or above 90% of its initial share price on any semiannual review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any asset finishes below its trigger level, 65% of its initial level, in which case investors will lose 1% for every 1% that the least-performing asset declines.
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 ADS: | Petróleo Brasileiro SA and Itaú Unibanco Holding SA
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| Amount: | $240,000
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| Maturity: | Jan. 6, 2022
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| Coupon: | 13.3% per year, payable every six months if each asset closes at or above interest barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each asset finishes at or above trigger level; otherwise, 1% for every 1% that the least-performing asset declines
|
| Call: | Automatically at par plus the contingent coupon if each asset closes at or above 90% of its initial share price on any semiannual review date other than the final one
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| Initial share prices: | $16.27 for Petrobras, $9.38 for Itaú
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| Coupon/interest barriers: | $10.5755 for Petrobras, $6.097 for Itaú; 65% of initial share prices
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| Trigger levels: | $10.5755 for Petrobras, $6.097 for Itaú; 65% of initial share prices prices
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| Pricing date: | Jan. 3
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| Settlement date: | Jan. 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132HQL9
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