By Sarah Lizee
Olympia, Wash., Aug. 25 – JPMorgan Chase Financial Co. LLC priced $620,000 of autocallable contingent interest notes due Aug. 26, 2021 linked to General Motors Co. and Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.05% if the lesser performing stock closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if the lesser performing stock closes at or above its initial level on any monthly review date other than the first, second and final ones.
The payout at maturity will be par plus the coupon unless the lesser performing stock finishes below its 75% buffer level, in which case investors will be exposed to any losses of the lesser performing stock beyond 25%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying assets: | General Motors Co. and Southwest Airlines Co.
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Amount: | $620,000
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Maturity: | Aug. 26, 2021
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Coupon: | 11.05% annualized, payable monthly if lesser performing stock closes at or above coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par plus the coupon unless the lesser performing stock finishes below its buffer level, in which case investors will be fully exposed to any losses of lesser performing stock beyond buffer
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Call: | At par plus the contingent coupon if the lesser performing stock closes at or above its initial level on any monthly review date other than the first, second and final ones
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Initial levels: | $28.56 for GM, $34.69 for Southwest
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Coupon barrier levels: | $17.136 for GM, $20.814 for Southwest, 60% of initial levels
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Buffer levels: | $21.42 for GM, $26.0175 for Southwest, 75% of initial levels
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Pricing date: | Aug. 21
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Settlement date: | Aug. 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48132M6N6
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