By Wendy Van Sickle
Columbus, Ohio, Oct. 23 – JPMorgan Chase Financial Co. LLC priced $1.1 million of autocallable contingent interest notes due Oct. 22, 2021 linked to the least performing of the Russell 2000 index, the iShares MSCI EAFE exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each underlier closes at or above its trigger value, 60% of its initial level, on a quarterly review date, the notes will pay a contingent coupon at the rate of 7% per year.
If each underlier closes at or above its initial level on any review date other than the first, second, third and final review dates, the notes will be automatically called at par plus the contingent coupon.
If the notes have not been called, the payout at maturity will be par unless any underlier finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing underlier finishes below its initial level.
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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Underliers: | Russell 2000 index, iShares MSCI EAFE exchange-traded fund and SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
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Amount: | $1,101,000
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Maturity: | Oct. 22, 2021
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Coupon: | If each underlier closes at or above trigger value on quarterly review date, notes will pay contingent coupon at rate of 67% per year
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Price: | Par
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Payout at maturity: | Par unless any underlier finishes below trigger value, in which case 1% loss for every 1% that least-performing underlier finishes below initial level
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Call: | If each underlier closes at or above initial level on any review date other than the first, second, third and final review dates, notes will be automatically called at par plus contingent coupon
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Initial levels: | 1,502.044 for index, $69.43 for iShares MSCI EAFE ETF and $33.14 for SPDR S&P Oil & Gas Exploration & Production ETF
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Trigger values: | 901.2264 for index, $41.658 for iShares MSCI EAFE ETF and $19.884 for SPDR S&P Oil & Gas Exploration & Production ETF; 60% of initial share prices
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Pricing date: | Oct. 19
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Settlement date: | Oct. 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.65%
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Cusip: | 48129HFL6
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