By Kiku Steinfeld
Chicago, Oct. 10 – JPMorgan Chase Financial Co. LLC priced $1.07 million of autocallable contingent interest notes due Dec. 24, 2020 linked to the common stock of Emerson Electric Co. according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay contingent interest at a yearly rate of 8.5% if the stock closes at or above its interest barrier level, 70% of the initial share price, on the review date for that period.
The notes will be called at par plus the contingent interest payment if the stock closes at or above its initial level on any quarterly review date other than the first and final one.
If the notes are not called, the payout at maturity will be par plus the final contingent interest payment unless the stock finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying shares: | Emerson Electric Co.
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| Amount: | $1,068,000
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| Maturity: | Dec. 24, 2020
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| Coupon: | 8.5% payable quarterly if stock closes at or above interest barrier on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus the final contingent interest payment unless stock finishes below trigger level, in which case full exposure to stock’s decline
|
| Call: | At par plus contingent interest payment if stock closes at or above initial share price on any quarterly review date other than the first and final one
|
| Initial share price: | $64.95
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| Interest barrier/trigger level: | $45.465, 70% of initial share price
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
|
| Cusip: | 48132FLQ7
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