By Kiku Steinfeld
Chicago, Dec. 23 – JPMorgan Chase Financial Co. LLC priced $3.86 million of autocallable contingent interest notes due Jan. 14, 2022 linked to Pioneer Natural Resources Co. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 13% if the stock closes at or above the trigger level, 63% of the initial share price, 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 the initial share price on any quarterly review date other than the first, second, third, fourth, fifth and final review dates.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
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: | Pioneer Natural Resources Co.
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| Amount: | $3,862,000
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| Maturity: | Jan. 14, 2022
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| Coupon: | 13%, payable if the stock closes at or above trigger level on quarterly review date
|
| Price: | Par
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| Payout at maturity: | If stock finishes at or above trigger level, par plus contingent coupon; otherwise, investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than first, second, third, fourth, fifth and final review dates
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| Initial level: | $115.57
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| Trigger price: | $72.8091, 63% of initial share price
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| Pricing date: | Dec. 11
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| Settlement date: | Dec. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
|
| Cusip: | 48132PJ21
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