By Wendy Van Sickle
Columbus, Ohio, Oct. 12 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Oct. 8, 2020 linked to the least performing of the Russell 2000 index and the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 8.7% per year if each underlier closes at or above its trigger value, 80% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly review date other than the first and final review dates.
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 1.25% for every 1% that the least-performing underlier falls beyond 20%.
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, Vanguard FTSE Emerging Markets ETF
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Amount: | $1 million
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Maturity: | Oct. 8, 2020.
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Coupon: | 8.7% per year, payable quarterly if each underlier closes at or above trigger value on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any underlier finishes below trigger value, in which case 1.25% loss for every 1% that least-performing underlier falls beyond 20%
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly review date other than first and final review dates
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Initial levels: | 1,507.765 for index, $44.26 for ETF
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Trigger values: | 1,206.212 for index, $35.408 for ETF; 80% of initial levels
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Pricing date: | Oct. 4
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Settlement date: | Oct. 10
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.25%
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Cusip: | 48129HFJ1
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