By Wendy Van Sickle
Columbus, Ohio, Nov. 23 – JPMorgan Chase Financial Co. LLC priced $900,000 of 9.6% autocallable yield notes due Nov. 22, 2021 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable quarterly.
The notes will be called at par plus the coupon if the fund closes at or above the initial share price on any quarterly observation date other than the final date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the fund finishes below the trigger value, in which case investors will have one-to-one exposure to the fund’s decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $900,000
|
| Maturity: | Nov. 22, 2021
|
| Coupon: | 9.6% per year, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless fund finishes below trigger level, in which case investors will lose 1% for each 1% decline of fund
|
| Call: | Automatically at par plus coupon if fund closes at or above its initial price on any quarterly trigger observation date other than final one
|
| Initial share price: | $36.48
|
| Trigger value: | $25.536, 70% of initial share price
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48132PZP2
|
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