By Kiku Steinfeld
Chicago, Feb. 17 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable yield notes due Feb. 8, 2022 linked to the common stock of AbbVie Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent interest payment at the rate of 8.25% per year if the stock closes at or above the trigger value, 75% of the initial share price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial share price on any quarterly observation date other than the final date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below the trigger value, in which case investors will have one-to-one exposure to the stock’s decline.
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 yield notes
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| Underlying stock: | AbbVie Inc.
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| Amount: | $500,000
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| Maturity: | Feb. 8, 2022
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| Contingent payment: | 8.25% per year, payable quarterly if stock closes at or above trigger level on observation date for that quarterly
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless the share price finishes below trigger level, in which case investors will lose 1% for each 1% decline of the stock
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| Call: | Automatically at par plus contingent coupon if stock closes at or above its initial price on any quarterly trigger observation date other than final one
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| Initial share price: | $82.30
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| Trigger value: | $61.725, 75% of initial share price
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48132H4E9
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