By Marisa Wong
Morgantown, W.Va., July 26 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due July 27, 2021 linked to the Russell 2000 index, 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 10.25% if the index closes at or above its 85% coupon barrier 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 first and final dates.
The payout at maturity will be par plus the contingent coupon, if any, unless the index finishes below its 75% trigger level, in which case investors will be fully exposed to any losses.
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 index: | Russell 2000
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| Amount: | $1 million
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| Maturity: | July 27, 2021
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| Coupon: | 10.25% annualized, payable quarterly if index closes at or above 85% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless index finishes below 75% trigger level, in which case 1% loss per 1% drop below initial level
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any quarterly review date other than first and final dates
|
| Initial levels: | 1,212.889
|
| Barrier level: | 1,030.95565, 85% of initial level
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| Trigger level: | 909.66675, 75% of initial level
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| Pricing date: | July 22
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| Settlement date: | July 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
|
| Cusip: | 46646EQE5
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