By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – JPMorgan Chase Financial Co. LLC priced $13.44 million of autocallable contingent interest and buffered notes due July 31, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
A trigger event occurs if the index closes below its 88% trigger level on any day during the life of the notes.
If a trigger event has not occurred on or prior to a monthly review date, the notes will pay a contingent coupon for that month at an annual rate of 7%.
If a trigger event has not occurred on or prior to the final review date, the notes will be automatically called at par plus the contingent coupon.
If the notes are not called, meaning a trigger event has occurred, at maturity investors will lose 1% for each 1% decline of the index beyond the 12% buffer.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest and buffered notes
|
| Underlying index: | Euro Stoxx 50
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| Amount: | $13,435,000
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| Maturity: | July 31, 2020
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| Coupon: | 7% annualized, payable monthly if index does not close below trigger any day that month
|
| Price: | Par
|
| Payout at maturity: | Par minus 1% for each 1% decline in index beyond 12%
|
| Call: | If index has not closed below trigger on or prior to the final review date, notes will be automatically called at par plus contingent coupon
|
| Initial level: | 3,467.73
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| Trigger/coupon barrier: | 3,051.6024, 88% of initial level
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
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| Cusip: | 46647MMH3
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