By Angela McDaniels
Tacoma, Wash., Oct. 4 – JPMorgan Chase Financial Co. LLC priced $460,000 of autocallable contingent interest notes due Sept. 29, 2020 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Every six months, the notes will pay a contingent coupon at the rate of 7% per year if each index closes at or above its trigger value, 75% of its initial level, on the review date for that semiannual period.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on March 24, 2020.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its trigger value, in which case investors will lose 1% for every 1% that the lesser-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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500 and Nasdaq-100
|
| Amount: | $460,000
|
| Maturity: | Sept. 29, 2020
|
| Coupon: | 7% per year, payable semiannually if each index closes at or above trigger value on review date for that semiannual period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger value, in which case 1% loss for every 1% that lesser-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on March 24, 2020
|
| Initial levels: | 2,966.60 for S&P 500 and 7,710.044 for Nasdaq-100 (closing levels on Sept. 24)
|
| Trigger values: | 2,224.95 for S&P 500 and 5,782.533 for Nasdaq-100, or 75% of initial levels
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.2%
|
| Cusip: | 48132FPK6
|
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