By Tali Rackner
Norfolk, Va., Oct. 26 – JPMorgan Chase Financial Co. LLC priced $375,000 of autocallable contingent interest notes due Oct. 24, 2019 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon of 4.65% annualized if each index closes at or above its trigger value, 50% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first, second, third, fourth, fifth and final dates.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its 50% trigger value, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
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 indexes: | S&P 500 and Russell 2000
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Amount: | $375,000
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Maturity: | Oct. 24, 2019
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Coupon: | 4.65% annualized, payable quarterly if each index closes at or above barrier level on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below trigger level, in which case 1% loss for each 1% decline of lesser-performing index
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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 first, second, third, fourth, fifth and final dates
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Initial levels: | 2,141.16 for S&P 500 and 1,218.096 for Russell 2000
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Barrier/trigger values: | 1,070.58 for S&P 500 and 609.048 for Russell 2000; 50% of initial levels
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Pricing date: | Oct. 21
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Settlement date: | Oct. 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 46646ET69
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