By Kiku Steinfeld
Chicago, Dec. 9 – JPMorgan Chase Financial Co. LLC priced $1.36 million of autocallable contingent interest notes due Jan. 4, 2022 linked to the common stock of Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at an annual rate of 9.6% if the stock closes at or above its trigger level, 75% of its initial share price, on the review date for that month.
The notes will be automatically called at par if the stock closes at or above its initial share price on any monthly review other than the first, second, third, fourth, fifth and final review dates.
The payout at maturity will be par unless the stock finishes below its trigger level, in which case investors will be exposed to the stock’s decline from its initial share price.
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: | Citigroup Inc. (Symbol: C)
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| Amount: | $1.36 million
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| Maturity: | Jan. 4, 2022
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| Coupon: | 9.6%, payable monthly if stock closes at or above trigger level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if stock finishes at or above trigger level; otherwise, exposure to decline of stock from initial share price
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial price on any monthly review date other than first, second, third, fourth, fifth and final ones
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| Initial share price: | $55.07
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| Trigger level: | $41.3025, 75% of initial share price
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132P3W2
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