By Wendy Van Sickle
Columbus, Ohio, Nov. 22 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Nov. 22, 2023 linked to the least performing of the common stocks of Citigroup Inc., Bank of America Corp. and Morgan Stanley, 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 semiannual coupon at an annual rate of 7.2% if each stock closes at or above its 50% coupon barrier on the review date for that period.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless any stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | Citigroup Inc., Bank of America Corp. and Morgan Stanley
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| Amount: | $500,000
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| Maturity: | Nov. 22, 2023
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| Coupon: | 7.2% annualized, payable semiannually if each stock closes at or above 50% coupon barrier on review date that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than first and final dates
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| Initial levels: | $71.33 for Citigroup, $26.62 for BofA and $48.70 for Morgan Stanley
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| Barrier/trigger levels: | $35.665 for Citigroup, $13.31 for BofA and $24.35 for Morgan Stanley; 50% of initial levels
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48129HNY9
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