By Wendy Van Sickle
Columbus, Ohio, Nov. 2 – JPMorgan Chase Financial Co. LLC priced $1.09 million of callable contingent interest notes due Nov. 2, 2021 linked to the S&P 500 index 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.
The notes will pay a contingent semiannually coupon at an annual rate of 11% if each underlying asset closes at or above its 70% interest barrier on the review date for that period.
The notes may be called in whole but not in part on any interest payment date other than the final date.
The payout at maturity will be par unless either asset finishes below its 70% trigger level, in which case investors will lose 1% for each 1% that the least-performing asset is less than its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
|
| Underlying assets: | S&P 500 index and SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
|
| Amount: | $1,088,000
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| Maturity: | Nov. 2, 2021
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| Coupon: | 11% annualized, payable semiannually if each asset closes at or above 70% interest barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below 70% trigger, in which case 1% loss for each 1% decline of laggard asset
|
| Call: | Callable at par on any interest payment date other than final date
|
| Initial levels: | 2,658.69 for S&P, $35.92 for ETF
|
| Interest barrier/trigger level: | 1,861.083 for S&P, $25.144 for ETF; 70% of initial levels
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| Pricing date: | Oct. 26
|
| Settlement date: | Nov. 2
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
|
| Cusip: | 48130UM36
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