By Wendy Van Sickle
Columbus, Ohio, April 19 – JPMorgan Chase Financial Co. LLC priced $9.47 million of contingent income autocallable securities due April 17, 2025 linked to Bank of America Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The securities will pay a contingent quarterly coupon at an annualized rate of 11.5% if the underlying stock closes at or above the 70% coupon barrier on the related observation date.
If the underlying stock closes at or above its initial price on any of the quarterly determination dates other than the first and final dates, the securities will be redeemed at par plus the contingent coupon.
If the underlying stock finishes at or above the 65% downside threshold, the payout at maturity will be par plus the final coupon, if any. Otherwise, the payout will be par times the final share price divided by the initial price.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Bank of America Corp.
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| Amount: | $9,468,000
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| Maturity: | April 17, 2025
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| Coupon: | 11.5% annualized, payable quarterly if the underlying stock closes at or above the coupon barrier on the relevant observation date
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon, if any, if underlying stock finishes at or above downside threshold; otherwise, par times final price divided by the initial price
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| Call: | At par plus contingent coupon if underlying stock closes at or above initial share price on any quarterly determination date other than first and final dates
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| Initial share price: | $38.82
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| Coupon barrier: | $27.174, 70% of initial price
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| Downside threshold: | $25.233; 65% of initial price
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| Pricing date: | April 13
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| Settlement date: | April 19
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 2.5%
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| Cusip: | 48133B369
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