By Sarah Lizee
Olympia, Wash., July 15 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Oct. 14, 2021 tied to the least performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9.2% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its initial level and either index has ever closed below its 60% trigger level during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
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 indexes: | S&P 500 index and Nasdaq-100 index
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| Amount: | $500,000
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| Maturity: | Oct. 14, 2021
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| Coupon: | 9.2% per year, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its initial level and either index has ever closed below its trigger level during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date other than the final one
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| Initial levels: | 10,836.330 for Nasdaq and 3,185.04 for S&P
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| Interest barriers: | 7,585.431 for Nasdaq and 2,229.528 for S&P; 70% of initial levels
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| Trigger levels: | 6,501.798 for Nasdaq and 1,911.024 for S&P; 60% of initial levels
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| Pricing date: | July 10
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| Settlement date: | July 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48132MTY7
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