By Kiku Steinfeld
Chicago, Jan. 24 – JPMorgan Chase Financial Co. LLC priced $729,000 million of autocallable contingent interest notes due April 22, 2021 linked to the common stock of Marvell Technology Group Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at the rate of 9.35% per year if Marvell shares close at or above the trigger level, 71.5% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if Marvell shares close at or above the initial share price on any quarterly review date other than the first and final review dates.
The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the trigger level, in which case investors will be fully exposed to the decline in the share price.
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: | Marvell Technology Group Ltd.
|
| Amount: | $729,000
|
| Maturity: | April 22, 2021
|
| Coupon: | 9.35%, payable quarterly if stock closes at or above trigger price on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any quarterly review date other than first and final review dates
|
| Initial share price: | $28.49
|
| Trigger price: | $20.37035, 71.5% of initial price
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132HRG9
|
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