By Kiku Steinfeld
Chicago, Dec. 29 – JPMorgan Chase Financial Co. LLC priced $4.76 million of autocallable contingent interest notes due Dec. 5, 2023 linked to the common shares of Schlumberger NV, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.25% if the stock closes at or above its 70% 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 quarterly autocall date other than the first and final dates.
The payout at maturity will be par unless the stock finishes below 70% trigger level, in which case investors will lose 1% for every 1% decline.
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 stock: | Schlumberger NV
|
| Amount: | $4.76 million
|
| Maturity: | Dec. 5, 2023
|
| Coupon: | 11.25% annualized, payable quarterly if stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will lose 1% for every 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly autocall date other than first and final dates
|
| Initial level: | $28.68
|
| Coupon barrier level: | $18.642, 70% of initial level
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| Trigger level: | $18.642, 70% of initial level
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48132YZU2
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