Chicago, Oct. 23 – JPMorgan Chase Financial Co. LLC priced $347,000 of autocallable contingent interest notes due Jan. 14, 2021 linked to the common stock of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Boeing stock closes at or above the interest barrier level, 70% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon at the rate of 10.75% per year.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless the stock finishes below the trigger level any day during the life of the notes and also finishes below its initial value, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.
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 stock: | Boeing Co. (Symbol: BA)
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| Amount: | $347,000
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| Maturity: | Jan. 14, 2021
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| Coupon: | 10.75% per year, payable quarterly if Boeing stock closes at or above interest barrier value on quarterly review date
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger level any day during the life of the notes and finishes below its initial level, in which case 1% loss for every 1% that stock finishes below initial share price
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than first and final ones
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| Initial share price: | $374.96
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| Interest barrier/trigger level: | $262.472, 70% of initial share price
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| Pricing date: | Oct. 9
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| Settlement date: | Oct. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48132FTS5
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