By Kiku Steinfeld
Chicago, April 27 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Jan. 27, 2021 linked to the lesser performing of the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 20% if each underlying closes at or above its interest barrier level, 70% of its initial level, on any quarterly review date.
The notes will be called at par plus the contingent coupon if each underlying closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the final coupon unless either underlying finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing underlying from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlyings: | Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund
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| Amount: | $500,000
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| Maturity: | Jan. 27, 2021
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| Coupon: | 20% annualized, payable quarterly if each underlying closes at or above interest barrier level on interest review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either underlying finishes below trigger level, in which case 1% loss for each 1% decline of worse performing underlying
|
| Call: | At par plus contingent coupon if each underlying closes at or above initial level on any quarterly review date other than the final one
|
| Initial levels: | 1,201.523 for Russell, $35.76 for fund
|
| Interest barriers/trigger levels: | 841.0661 for Russell, $25.032 for fund; 70% of initial levels
|
| Pricing date: | April 22
|
| Settlement date: | April 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.55%
|
| Cusip: | 48132KXB6
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