By Susanna Moon
Chicago, Sept. 17 – JPMorgan Chase Financial Co. LLC priced $883,000 of autocallable contingent interest notes due Feb. 28, 2020 linked to the lesser performing of the Financial Select Sector SPDR Fund and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.25% if each underlying fund closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each fund 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 fund ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing fund.
The notes are guaranteed by JPMorgan Chase & Co.
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 funds: | Financial Select Sector SPDR Fund and the SPDR S&P Regional Banking ETF
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| Amount: | $883,000
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| Maturity: | Feb. 28, 2020
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| Coupon: | 8.25% annualized, payable quarterly if each fund closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either fund ever dips below 70% 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 fund closes at or above initial level on any review date other than final date
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| Initial levels: | $28.33 for financial fund, $63.15 for banking fund
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| Trigger levels: | $19.831 for financial fund, $44.205 for banking fund, 70% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.53171%
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| Cusip: | 48130UAP0
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