By Sarah Lizee
Olympia, Wash., Aug. 26 – JPMorgan Chase Financial Co. LLC priced $829,000 of autocallable contingent interest notes due Aug. 29, 2023 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 11.5% if the stock closes at or above its 75% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its initial level and ever closes 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 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 stock: | Apple Inc.
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Amount: | $829,000
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Maturity: | Aug. 29, 2023
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Coupon: | 11.5% annualized, payable quarterly if stock closes at or above 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 unless stock finishes below initial level and ever closes below trigger, in which case 1% loss for each 1% decline
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Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly review other than final date
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Initial level: | $503.43
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Coupon barrier/trigger level: | $377.5725, 75% of initial level
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Pricing date: | Aug. 24
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Settlement date: | Aug. 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.75%
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Cusip: | 48132M6Y2
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