By Wendy Van Sickle
Columbus, Ohio, Sept. 17 – JPMorgan Chase Financial Co. LLC priced $7.92 million autocallable contingent interest notes due June 28, 2023 linked to Snowflake Inc., according to an 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15% if Snowflake shares close at or above the barrier level, 64.9% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if Snowflake shares close at or above the initial share price on any quarterly review date other than the final review date.
If the stock finishes at or above the barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the stock’s losses.
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 shares: | Snowflake Inc.
|
| Amount: | $7,921,000
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| Maturity: | June 28, 2023
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| Coupon: | 15% annualized for each quarter that Snowflake stock closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below the barrier level, in which case exposure to the stock’s losses
|
| Call: | At par plus contingent coupon if Snowflake shares close at or above initial share price on any quarterly review date other than final review date
|
| Initial share price: | $247.09
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| Barrier level: | $160.36141, 64.9% of initial share price
|
| Pricing date: | June 25
|
| Settlement date: | July 1
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48132URZ8
|
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