By Kiku Steinfeld
Chicago, Sept. 30 – JPMorgan Chase Financial Co. LLC priced $3.53 million of autocallable contingent interest notes due Oct. 28, 2021 linked to Alcoa Corp. stock, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13% if the stock closes at or above the 59% coupon barrier on the observation date for that quarter.
The notes will be called at par if the shares close at or above the initial price on a quarterly review date other than the first, second, third, fourth, fifth and final dates.
The payout at maturity will be par unless the stock finishes below its 59% 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 underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying asset: | Alcoa Corp.
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| Amount: | $3,527,000
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| Maturity: | Oct. 28, 2021
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| Coupon: | 13%, payable quarterly if stock closes at or above 59% coupon barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless the stock finishes below its 59% trigger levels, in which case investors will be fully exposed to any losses
|
| Call: | At par if shares close at or above initial price on quarterly review date other than the first, second, third, fourth, fifth and final dates
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| Initial level: | $11.64
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| Trigger level: | $6.8676, 59% of the initial level
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132PCL6
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