Chicago, Oct. 20 – JPMorgan Chase Financial Co. LLC priced $2.15 million of autocallable contingent interest notes due Oct. 30, 2024 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a quarterly coupon of 14.6% if the stock closes at or above its 80% trigger level on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically starting Jan. 26, 2024 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
Investors will receive par if the stock closes above its 80% buffer level. Otherwise, investors will lose 1.25% for each 1% decline beyond the 20% buffer.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Amazon.com, Inc. (Ticker: AMZN)
|
| Amount: | $2,149,000
|
| Maturity: | Oct. 30, 2024
|
| Coupon: | 14.6% annual rate, paid quarterly if the stock closes at or above its 80% trigger level on the related valuation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par is stock closes above buffer level; otherwise, 1.25% loss for each 1% decline beyond 20% buffer
|
| Call: | Automatically starting Jan. 26, 2024 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
|
| Initial level: | $129.79
|
| Buffer level: | $103.832, 80% of initial level
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48134BTN3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
