By Wendy Van Sickle
Columbus, Ohio, Feb. 15 – JPMorgan Chase Financial Co. LLC priced $437,000 of contingent income autocallable securities due Feb. 19, 2021 linked to the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index closes at or above the downside threshold level, 80% of the initial level, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 8.8%.
The notes will be called at par plus the contingent coupon if the index closes at or above the initial level on any quarterly determination date other than the final determination date.
If the final level is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Issue: | Contingent income autocallable securities
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| Underlying index: | Hang Seng China Enterprises
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| Amount: | $437,000
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| Maturity: | Feb. 19, 2021
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| Coupon: | 8.8% per year, payable quarterly if the index closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
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| Payout at maturity: | If final level is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that index declines from initial level
|
| Call: | At par plus contingent coupon if the index closes at or above initial level on any quarterly determination date other than final determination date
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| Initial level: | 11,199.1
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| Downside threshold: | 8,959.28, 80% of initial level
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 19
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Smith Barney LLC
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| Fees: | 2%
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| Cusip: | 48130WWX5
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