By William Gullotti
Buffalo, N.Y., Jan. 19 – JPMorgan Chase Financial Co. LLC priced $1.68 million of autocallable contingent interest notes due Feb. 1, 2023 linked to the common stock of Diamondback Energy, 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 16.75% if the stock closes above its 75% coupon barrier level on the relevant review date. Previously unpaid contingent interest payments, if any, will be automatically included whenever a payment is made.
If the stock closes above its initial level on any quarterly review date other than the final, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus the final contingent interest payment if the stock finishes at or above its trigger price, 75% of its initial price.
Otherwise, investors will lose 1.33333% for every 1% decline beyond 25%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Diamondback Energy, Inc.
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| Amount: | $1,675,000
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| Maturity: | Feb. 1, 2023
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| Coupon: | 16.75% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus interest payment if stock finishes above trigger price; otherwise, lose 1.33333% for every 1% decline of the stock beyond 25%
|
| Call: | At par plus interest payment if stock finishes above initial level on quarterly review date other than the final
|
| Initial price: | $129.21
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| Coupon barrier level: | $96.9075; 75% of initial price
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| Trigger level: | $96.9075; 75% of initial price
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 20
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48133CQJ4
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