By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – JPMorgan Chase Financial Co. LLC priced $2.98 million of autocallable contingent interest notes due Nov. 18, 2022 linked to the least performing of the common stocks of Exxon Mobil Corp. and UnitedHealth Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above its trigger value, 60% of its initial share price, on a quarterly review date, the notes will pay a contingent coupon that quarter at the rate of 8.8% per year.
The notes will be automatically called at par if each stock closes at or above its 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 either stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing stock finishes below 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 stocks: | Exxon Mobil Corp. and UnitedHealth Group Inc.
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| Amount: | $2,982,000
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| Maturity: | Nov. 18, 2022
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| Coupon: | 8.8% 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 unless either stock finishes below trigger value, in which case 1% loss for every 1% that least-performing stock finishes below initial share price
|
| Call: | Automatically at par if each 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 prices: | $69.19 for Exxon and $269.40 for United Health
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| Trigger values: | $41.514 for Exxon and $161.64 for UnitedHealth, or 60% of initial share prices
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132FL46
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