By Sarah Lizee
Olympia, Wash., Oct. 17 – JPMorgan Chase Financial Co. LLC priced $825,000 of autocallable contingent interest notes due Oct. 14, 2022 linked to the least performing of the iShares MSCI Emerging Markets ETF and the Utilities Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6.05% per year if each ETF closes at or above its trigger value, 60% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each ETF closes at or above its initial share price on any quarterly review date other than the first and final ones.
If the notes have not been called, the payout at maturity will be par unless any ETF finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing ETF 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETFs: | iShares MSCI Emerging Markets ETF and the Utilities Select Sector SPDR fund
|
| Amount: | $825,000
|
| Maturity: | Oct. 14, 2022
|
| Coupon: | 6.05% per year, payable quarterly if each ETF closes at or above trigger value on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any ETF finishes below trigger value, in which case 1% loss for every 1% that least-performing ETF finishes below initial share price
|
| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial share price on any quarterly review date other than the first and final ones
|
| Initial share prices: | $41.73 for EM, $63.92 for utilities
|
| Trigger values: | $25.038 for EM, $38.352 for utilities, or 60% of initial share prices
|
| Pricing date: | Oct. 11
|
| Settlement date: | Oct. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48132FXR2
|
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