Chicago, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $535,000 of autocallable contingent interest notes due Aug. 19, 2020 linked to the American Depositary Shares of Telefonaktiebolaget LM Ericsson, 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 10% (plus any unpaid coupons) if the stock closes at or above the trigger level, 76% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon (and any unpaid coupons) if the stock closes at or above the initial share price on any quarterly review date other than the final review date.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon and any unpaid coupons.
Otherwise, investors will be fully exposed to any losses.
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 stock: | Telefonaktiebolaget LM Ericsson
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| Amount: | $535,000
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| Maturity: | Aug. 19, 2020
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| Coupon: | 10% plus unpaid coupons, payable if the stock closes at or above trigger level on quarterly review date
|
| Price: | Par
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| Payout at maturity: | If stock finishes at or above trigger level, par plus contingent coupon and any unpaid coupons; otherwise, investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon and unpaid coupons if stock closes at or above initial share price on any quarterly review date other than final review date
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| Initial level: | $8.64
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| Trigger price: | $6.5664, 76% of initial share price
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| Pricing date: | Aug. 2
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| Settlement date: | Aug. 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132CG23
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