By Wendy Van Sickle
Columbus, Ohio, Jan. 10 – JPMorgan Chase Financial Co. LLC priced $100,000 of autocallable contingent interest notes due Jan. 12, 2021 linked to the least performing of the common stocks of Microchip Technology Inc. and Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6.55% if each stock closes at or above its interest barrier level, 55% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par plus the final coupon unless either stock finishes below its 55% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing stock from 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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| Underlying stocks: | Microchip Technology Inc., Qualcomm Inc.
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| Amount: | $100,000
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| Maturity: | Jan. 12, 2021
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| Coupon: | 6.55% annualized, payable quarterly if each underlying stock closes at or above barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless either stock finishes below barrier level, in which case 1% loss for each 1% decline of worse performing stock from initial level
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than final date
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| Initial levels: | $110.69 for Microchip, $88.97 for Qualcomm
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| Interest/barrier levels: | $60.8795 for Microchip, $48.9335 for Qualcomm; 55% of initial levels
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| Pricing date: | Jan. 8
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| Settlement date: | Jan. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48132HSF0
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