By Kiku Steinfeld
Chicago, July 30 – JPMorgan Chase Financial Co. LLC priced $837,000 of autocallable contingent interest notes due Oct. 28, 2021 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes pay a contingent coupon at the rate of 12.3% per year if Facebook shares close at or above the trigger level, 70% of the initial share price, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if Facebook shares close at or above the initial share price on any monthly review date other than the first, second, third, fourth, fifth and final review dates.
The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the trigger level, in which case investors will be fully exposed to the decline in the share price.
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: | Facebook, Inc. (Symbol: FB)
|
| Amount: | $837,000
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| Maturity: | Oct. 28, 2021
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| Coupon: | 12.3%, payable monthly if stock closes at or above trigger price on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Facebook shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Facebook shares close at or above initial price on any monthly review date other than first, second, third, fourth, fifth and final dates
|
| Initial share price: | $230.71
|
| Trigger price: | $161.497, 70% of initial price
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| Pricing date: | July 24
|
| Settlement date: | July 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132MUT6
|
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