By Susanna Moon
Chicago, Sept. 20 – JPMorgan Chase Financial Co. LLC priced $4.38 million of autocallable contingent interest notes due Sept. 10, 2021 linked to Valero Energy Corp. stock, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if the stock closes at or above the 75% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any of the first 11 determination dates.
The payout at maturity will be par plus unless the stock finishes below its 75% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
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 asset: | Valero Energy Corp. (Symbol: VLO)
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Amount: | $4,383,650
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Maturity: | Sept. 10, 2021
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Coupon: | 9%, payable quarterly if stock closes at or above 75% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if shares finish at or above 75% trigger level; otherwise, par plus stock return
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Call: | At par plus contingent coupon if shares close at or above initial price on any of the first 11 determination dates
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Initial level: | $86.31
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Trigger level: | $115.08, 75% of the initial level
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Pricing date: | Sept. 7
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Settlement date: | Sept. 12
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 61768R864
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