Chicago, Dec. 10 – JPMorgan Chase Financial Co. LLC priced $1.28 million of autocallable contingent interest notes due April 5, 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.
The notes pay a quarterly contingent interest payment at an annual rate of 9.3% if the stock closes above its 70% coupon barrier price on the related review date.
If the stock closes above its initial price on any quarterly review date other than the final review date, the notes will be automatically called at par plus the contingent interest payment.
If the final price of the stock is at or above its 70% trigger level, the payout at maturity will be par plus any interest due.
Otherwise, investors will lose 1% for each 1% decline in the stock.
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: | Citigroup Inc.
|
| Amount: | $1,275,000
|
| Maturity: | April 5, 2022
|
| Coupon: | 9.3% annual rate, payable quarterly, if stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if stock finishes at or above its trigger level; otherwise, full exposure to losses of stock
|
| Call: | At par plus interest payment if stock finishes above initial price on quarterly review date other than the final review date
|
| Initial price: | $72.75
|
| Coupon barrier level: | $50.925, 70% of initial price
|
| Trigger level: | $50.925, 70% of initial price
|
| Pricing date: | March 31
|
| Settlement date: | April 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48132TMN3
|
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