By Taylor Fox
New York, Feb. 22 – JPMorgan Chase Financial Co. LLC priced $680,000 of autocallable contingent interest notes due Feb. 16, 2022 linked to the common stock of FedEx Corp., 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 11.72% if the stock closes above its 70% coupon barrier level on the relevant review date. Previously unpaid coupons will also be paid.
If the stock closes above its initial level on any quarterly review date, the notes will be automatically called at par plus any contingent interest payment due.
The payout at maturity will be par plus any contingent interest payment due if the final level of the stock closes at or above its final barrier, 70% of its initial price.
Otherwise, investor will be fully exposed to the decline of the 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 stock: | FedEx Corp.
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| Amount: | $680,000
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| Maturity: | Feb. 16, 2022
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| Coupon: | 11.72% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par plus any interest payment if stock finishes above final barrier; otherwise, full exposure to losses of stock
|
| Call: | At par plus interest payment if stock finishes above initial level on quarterly review date
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| Initial price: | $235.34
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| Coupon barrier price: | $164.738, 70% of initial price
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| Final barrier price: | $164.738, 70% of initial price
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132RPG9
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