By Susanna Moon
Chicago, Aug. 18 – JPMorgan Chase & Co. priced $1 million of autocallable contingent interest notes due Aug. 19, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.6% if the index closes at or above its coupon barrier level, 80% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless the index finishes below its 80% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying index: | S&P 500
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| Amount: | $1 million
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| Maturity: | Aug. 19, 2020
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| Coupon: | 7.6% annualized, payable quarterly if index closes at or above coupon barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless index finishes below trigger level, in which case full exposure to any losses
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final date
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| Initial level: | 2,091.54
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| Barrier level: | 1,673.232, 80% of initial level
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| Pricing date: | Aug. 14
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| Settlement date: | Aug. 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48125UL26
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