By Tali Rackner
Minneapolis, Jan. 26 – JPMorgan Chase Financial Co. LLC priced $9.24 million trigger autocallable notes due Jan. 28, 2021 linked to the lesser performing of the SPDR S&P Bank exchange-traded fund and the Euro Stoxx Banks index, 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 an annualized rate of 8.75% if each asset closes at or above the coupon barrier, 65% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par of $10 if each asset closes at or above the initial level on any quarterly observation date after six months.
If the notes are not called and the final level of each asset is greater than or equal to the 65% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser performing asset.
UBS Financial Services Inc. is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying assets: | SPDR S&P Bank ETF, Euro Stoxx Banks index.
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| Amount: | $9,243,850
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| Maturity: | Jan. 28, 2021
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| Coupon: | 8.75%, payable quarterly if each asset closes at or above coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Call: | At par if each asset closes at or above initial price on any quarterly observation date after six months
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| Payout at maturity: | Par plus final coupon unless either asset closes finishes below downside threshold, in which case 1% loss for every 1% decline in lesser-performing asset
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| Initial levels: | $51.16 for ETF, 141.92 for index
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| Coupon barrier/thresholds: | $33.25 for ETF, 92.25 for index, 65% of initial levels
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Underwriters: | UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 48129K258
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