By William Gullotti
Buffalo, N.Y., May 13 – JPMorgan Chase Financial Co. LLC sold $970,000 of autocallable contingent interest notes due Oct. 11, 2024 linked to the performance of the stocks of Snap Inc. and Facebook, 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 11.25% if each stock closes at or above its interest barrier level, 50% 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 one year.
The payout at maturity will be par plus the final coupon unless any stock finishes below the 50% trigger value, in which case 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: | Snap Inc., Facebook, Inc.
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| Amount: | $970,000
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| Maturity: | Oct. 11, 2024
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| Coupon: | 11.25% 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: | Par plus final coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of worst performing stock 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 one year
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| Initial levels: | $75.00 for Snap, $330.05 for Facebook
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| Interest barriers: | $37.50 for Snap, $165.025 for Facebook; 50% of initial levels
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| Trigger values: | $37.50 for Snap, $165.025 for Facebook; 50% of initial levels
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| Pricing date: | Oct. 8, 2021
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| Settlement date: | Oct. 14, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.85%
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| Cusip: | 48132WW70
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