By William Gullotti
Buffalo, N.Y., Dec. 29 – JPMorgan Chase Financial Co. LLC sold $4.5 million of autocallable contingent interest notes due Dec. 24, 2026 linked to the performance of the stocks of Bank of America Corp. and Citigroup Inc., 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 annual rate of 9.45% if each stock closes at or above its interest barrier level, 55% of its initial level, on the corresponding review date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly call date after six months.
If the notes are not called and each stock finishes at or above its 55% trigger value, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
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 stocks: | Bank of America Corp., Citigroup Inc.
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| Amount: | $4.5 million
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| Maturity: | Dec. 24, 2026
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| Coupon: | 9.45% annualized, payable quarterly if each underlying stock closes at or above interest barrier level on relevant observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger value, par plus final coupon; otherwise, full exposure to decline of worst performer from initial level
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| Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call date after six months
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| Initial levels: | $32.98 for BofA, $50.07 for Citigroup
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| Interest barriers: | $18.139 for BofA, $27.5385 for Citigroup; 55% of initial levels
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| Trigger values: | $18.139 for BofA, $27.5385 for Citigroup; 55% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 48134R5X2
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