By Susanna Moon
Chicago, Nov. 17 – JPMorgan Chase Financial Co. LLC priced $8.38 million of contingent income autocallable securities due Nov. 30, 2020 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if the stock closes at or above the 80% downside threshold level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial share price on any valuation date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 80% downside threshold, in which case investors will be fully exposed to any losses.
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: | Contingent income autocallable securities
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| Underlying stock: | Amazon.com, Inc. (Symbol: AMZN)
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| Amount: | $8,383,250
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| Maturity: | Nov. 30, 2020
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| Contingent payment: | 9.25% annualized, payable quarterly if stock closes at or above 80% downside threshold on determination date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon unless stock finishes below 80% downside threshold, in which case 1% for each 1% decline
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| Call: | At par plus contingent payment if stock closes at or above initial share price on any determination date other than final date
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| Initial share price: | $1,186.00
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| Downside threshold: | $948.80, 80% of initial price
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 29
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| Agents: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48129K837
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