By Wendy Van Sickle
Columbus, Ohio, April 16 – JPMorgan Chase Financial Co. LLC priced $1.5 million of autocallable contingent interest notes due April 18, 2022 linked to Chevron Corp. 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 annualized rate of 10.22% if the stock closes at or above its coupon barrier level, 75% of the initial level, on the observation date for that quarter, plus any previously unpaid coupon.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly valuation date other than the final dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 75% trigger level, in which case investors will be fully exposed to the stock’s 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: | Chevron Corp.
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| Amount: | $1.5 million
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| Maturity: | April 18, 2022
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| Coupon: | 10.22% per year, payable each quarter that stock closes at or above its 75% coupon barrier on the observation date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below its trigger level, in which case full exposure to stock’s losses
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| Call: | At par plus the contingent coupon if stock closes at or above the initial level on any quarterly valuation date other than final date
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| Initial level: | $105.93
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| Coupon barrier: | $79.4475, 75% of initial level
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| Trigger level: | $79.4755, 75% of initial level
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| Pricing date: | March 31
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| Settlement date: | April 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132TPW0
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