By Kiku Steinfeld
Chicago, Nov. 7 – JPMorgan Chase Financial Co. LLC priced $200,000 of autocallable contingent interest notes due April 15, 2021 linked to the lesser performing of the common stocks of HCA Healthcare, Inc. and MGM Resorts International, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 12.1% per year plus any previously unpaid coupons if each stock closes at or above its trigger value, 60% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon and any previously unpaid coupons if each stock closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par plus any previously unpaid coupons unless either stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the lesser-performing stock finishes below its initial level.
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 stocks: | HCA Healthcare, Inc. and MGM Resorts International
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Amount: | $200,000
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Maturity: | April 15, 2021
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Coupon: | 12.1% per year, payable quarterly if each stock 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 plus any previously unpaid coupons unless either stock finishes below trigger value, in which case 1% loss for every 1% that lesser-performing stock finishes below initial level
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Call: | Automatically at par plus contingent coupon and any previously unpaid coupons if each stock closes at or above initial level on any quarterly review date other than final one
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Initial levels: | $120.43 for HCA Healthcare and $28.08 for MGM Resorts
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Trigger values: | $72.258 for HCA Healthcare and $16.848 for MGM Resorts, 60% of initial levels
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Pricing date: | Oct. 11
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Settlement date: | Oct. 17
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48132FYK6
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