By Angela McDaniels
Tacoma, Wash., Oct. 21 – JPMorgan Chase Financial Co. LLC priced $847,000 of autocallable contingent interest notes due Jan. 22, 2021 linked to the common stock of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If FedEx stock closes at or above the trigger level, 60% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon at the rate of 10.5% per year.
The notes will be automatically called at par if the stock closes at or above the initial share price on April 16, 2020, July 16, 2020 or Oct. 16, 2020.
If the notes have not been called, the payout at maturity will be par unless FedEx stock closes below the trigger level during the life of the notes and the final share price is less than the initial share price, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.
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 stock: | FedEx Corp. (Symbol: FDX)
|
| Amount: | $847,000
|
| Maturity: | Jan. 22, 2021
|
| Coupon: | 10.5% per year, payable quarterly if FedEx stock closes at or above trigger value on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par unless FedEx stock closes below trigger level during life of notes and final share price is less than initial share price, in which case 1% loss for every 1% that stock declines from initial share price
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on April 16, 2020, July 16, 2020 or Oct. 16, 2020
|
| Initial share price: | $150.77
|
| Trigger level: | $90.462, 60% of initial share price
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132FWE2
|
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