By Devika Patel
Knoxville, Tenn., Dec. 28 – JPMorgan Chase Financial Co. LLC priced $376,000 of 0% step-up autocallable notes due Dec. 15, 2025 linked to the S&P Economic Cycle Factor Rotator index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus an annualized call premium of 7% if the index closes at or above the its call level on any of the six annual call dates beginning on Dec. 10, 2019.
The call level is 101.8% of the initial level initially, stepping up by 180 basis points each year to a final call level of 110.8% for the final call date on Dec. 10, 2024.
If the notes are not called and the final index level is greater than the initial index level, the payout at maturity will be par plus the index return.
If the final index level is less than or equal to the initial level, the payout will be par.
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: | Step-up autocallable notes
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| Underlying index: | S&P Economic Cycle Factor Rotator
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| Amount: | $376,000
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| Maturity: | Dec. 15, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final index level is greater than initial level, par plus the return; otherwise, par
|
| Call: | At par plus annualized call premium of 7% if index closes at or call level on any annual call date beginning on Dec. 10, 2019
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| Initial index level: | 380.998
|
| Call levels: | 101.8% initially, stepping up by 180 bps each year to 110.8% on Dec. 10, 2024
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| Pricing date: | Dec. 10
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| Settlement date: | Dec. 13
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| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 4.25678%
|
| Cusip: | 48130WEZ0
|
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