By Kiku Steinfeld
Chicago, Nov. 7 – JPMorgan Chase Financial Co. LLC sold $3.3 million of 8.35% autocallable yield notes due Oct. 14, 2021 linked to the worst performing of the common stocks of Broadcom Inc. and Microsoft Corp. according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest rate will payable monthly.
After six months, the notes will be called at par if each stock closes at or above 100% of its initial level on any monthly review date other than the final one.
The payout at maturity will be par unless either stock finishes below its trigger level, 55% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
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| Underlying stocks: | Broadcom Inc. and Microsoft Corp.
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| Amount: | $3,300,000
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| Maturity: | Oct. 14, 2021
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| Coupon: | 8.35%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below trigger level, in which case 1% loss for every 1% decline of worse performing stock from initial level
|
| Call: | After six months, at par if each stock closes at or above the initial level on any monthly review date other than the final one
|
| Initial levels: | $280.91 for Broadcom, $139.68 for Microsoft
|
| Trigger levels: | $154.5005 for Broadcom, $76.824 for Microsoft, 55% of initial levels
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| Pricing date: | Oct. 11
|
| Settlement date: | Oct.17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48132FB39
|
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