By Angela McDaniels
Tacoma, Wash., Aug. 1 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due July 30, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 8% per year if the ETF closes at or above its buffer threshold, 85% of its initial share price, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if the ETF closes at or above its initial share price on any monthly review date other than the first, second and final review dates.
If the notes have not been called, the payout at maturity will be par unless the ETF finishes below its buffer threshold, in which case investors will lose 1% for every 1% that the ETF declines beyond 15%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1,003,000
|
| Maturity: | July 30, 2021
|
| Coupon: | 8% per year, payable monthly if ETF closes at or above buffer threshold on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below buffer threshold, in which case 1% loss for every 1% that ETF declines beyond 15%
|
| Call: | Automatically at par plus contingent coupon if ETF closes at or above initial share price on any monthly review date other than first, second and final ones
|
| Initial share price: | $24.21
|
| Buffer threshold: $20.5785, or 85% of initial share price
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.45%
|
| Cusip: | 48132C3C5
|
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