By Susanna Moon
Chicago, Jan. 3 – JPMorgan Chase Financial Co. LLC priced $3.26 million of autocallable contingent interest notes due Dec. 29, 2020 linked to the lesser performing of the S&P 500 index and the SPDR S&P Biotech 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 semiannual coupon at an annual rate of 11% if each underlying component closes at or above its interest barrier level, 60% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each component closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless either component finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing component.
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 assets: | S&P 500 and SPDR S&P Biotech ETF
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Amount: | $3,257,000
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Maturity: | Dec. 29, 2020
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Issue price: | Par
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Coupon: | 11% annualized, payable semiannually if each underlying component closes at or above 60% interest barrier on review date for that period
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Payout at maturity: | Par plus final coupon unless either component finishes below 60% trigger, in which case 1% loss for each 1% decline of worse performing index
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Call: | At par plus contingent coupon if each component closes at or above initial level on any review date other than final date
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Initial levels: | 2,263.79 for S&P and $61.53 for biotech fund
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Trigger levels: | 1,358.274 for S&P and $36.918 for biotech fund; 60% of initial levels
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Pricing date: | Dec. 23
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Settlement date: | Dec. 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.4%
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Cusip: | 46646QFT7
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