By Kiku Steinfeld
Chicago Jan. 21 – JPMorgan Chase Financial Co. LLC priced $252,000 of autocallable contingent interest notes due Jan. 18, 2024 linked to the least performing of the common stocks of Bank of America Corp., Wells Fargo & Co. and Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.4% if each stock closes at or above its 60% coupon barrier on the review date for that quarter, in which case any previously unpaid coupons will also be paid.
The notes will be called at par if each stock closes at or above its initial level on any quarterly call review date other than the final one.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Bank of America Corp., Wells Fargo & Co. and Citigroup Inc.
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| Amount: | $252,000
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| Maturity: | Jan. 18, 2024
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| Coupon: | 8.4% annualized, payable quarterly plus any previously unpaid coupons if each stock closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par if each stock closes at or above initial level on any quarterly call review date other than final one
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| Initial levels: | $33.66 for BofA, $33.94 for Wells Fargo and $66.67 for Citi
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| Trigger levels: | $20.196 for BofA, $20.364 for Wells Fargo and $40.002 for Citi; 60% of initial levels
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| Pricing date: | Jan 13
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| Settlement date: | Jan. 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132RJT8
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