By Devika Patel
Knoxville, Tenn., Feb. 2– JPMorgan Chase Financial Co. LLC priced $2.61 million of autocallable contingent interest notes due Jan. 31, 2025 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, 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 7.5% if each underlying closes at or above its interest barrier level, 80% of its initial level, on any quarterly review date.
The notes will be called at par plus the contingent coupon if each underlying closes at or above its initial level on any quarterly review date other than the final one beginning on Jan. 28, 2019.
The payout at maturity will be par plus the final coupon unless either underlying finishes below its 80% buffer level, in which case investors will lose 1% for each 1% decline of the worse performing underlying from its 80% buffer level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
|
| Underlyings: | Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund
|
| Amount: | $2,606,000
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| Maturity: | Jan. 31, 2025
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| Coupon: | 7.5% annualized, payable quarterly if each underlying closes at or above interest barrier level on interest review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either underlying finishes below buffer level, in which case 1% loss for each 1% decline of worse performing underlying from 80% buffer level
|
| Call: | At par plus contingent coupon if each underlying closes at or above initial level on any quarterly review date beginning on Jan. 28, 2019
|
| Initial levels: | 3,647.41 for Stoxx, $52.08 for fund
|
| Interest barriers: | 2,917.928 for Stoxx, $41.664 for fund; 80% of initial levels
|
| Buffer levels: | 2,917.928 for Stoxx, $41.664 for fund; 80% of initial levels
|
| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.25%
|
| Cusip: | 48129HH42
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