By Kiku Steinfeld
Chicago, Jan. 18 – JPMorgan Chase Financial Co. LLC priced $1.73 million of autocallable contingent interest notes due Nov. 29, 2024 linked to Microsoft 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 6.7% if the stock closes at or above its coupon barrier level, 70% of the initial level, on the observation date for that period.
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 after six months.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 70% trigger level, in which case 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: | Microsoft Corp.
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| Amount: | $1,727,000
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| Maturity: | Nov. 29, 2024
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| Coupon: | 6.7% per year, payable each quarter that stock closes at or above its interest barrier on the observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless stock closes below its trigger level, in which case full exposure to any 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 after six months
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| Initial level: | $337.91
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| Interest barrier: | $236.537, 70% of initial level
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| Trigger level: | $236.537, 70% of initial level
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48132Y2M6
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