By Kiku Steinfeld
Chicago, Aug. 7 – JPMorgan Chase Financial Co. LLC priced $675,000 of autocallable contingent interest notes due Jan. 28, 2022 linked to the least performing of the common stocks of FedEx Corp. and United Parcel Service, 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 8.35% if each stock closes at or above its interest barrier level, 70% of its initial level, 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 95% of its initial level on any quarterly review date other than the final date.
The payout at maturity will be par plus the coupon unless any stock finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing stock from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | FedEx Corp. and United Parcel Service, Inc.
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| Amount: | $675,000
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| Maturity: | Jan. 28, 2022
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| Coupon: | 8.35% annualized, payable quarterly if each underlying stock closes at or above interest barrier level on review date for that period
|
| 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 worse performing stock from initial level
|
| Call: | At par plus contingent coupon if each stock closes at or above 95% on any quarterly review date other than the final date
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| Initial levels: | $175.87 for FedEx, $118.25 for UPS
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| Interest barrier levels: | $123.109 for FedEx, $82.775 for UPS; 70% of initial levels
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| Pricing date: | July 25
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| Settlement date: | July 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 48132C6A6
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