By Angela McDaniels
Tacoma, Wash., Aug. 3 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Aug. 3, 2021 linked to the lesser performing of the common stocks of Exxon Mobil Corp. and Chevron Corp., 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 annual rate of 7.7% if each stock closes at or above its trigger value, 60% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly review other than the first and final review dates.
The payout at maturity will be par unless either stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the lesser-performing stock from its initial share price.
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: | Exxon Mobil Corp. (Symbol: XOM) and Chevron Corp. (Symbol: CVX)
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| Amount: | $1 million
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| Maturity: | Aug. 3, 2021
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| Coupon: | 7.7%, 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 contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of worse-performing stock from initial share price
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date other than first and final ones
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| Initial share prices: | $88.95 for Exxon Mobil and $102.48 for Chevron
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| Trigger values: | $53.57 for Exxon Mobil and $61.488 for Chevron; 60% of initial share prices
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| Pricing date: | July 29
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| Settlement date: | Aug. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.85%
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| Cusip: | 46646ETB8
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