By William Gullotti
Buffalo, N.Y., April 26 – JPMorgan Chase Financial Co. LLC priced $1.21 million of callable contingent interest notes due Sept. 8, 2023 linked to the shares of Fifth Third Bancorp, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.85% if the stock closes at or above its 70% coupon barrier on the relevant review date.
The notes may be called at par plus any coupon due on any monthly review date other than the first, second and final dates.
If the notes have not been called and the final share price is greater than or equal to the 70% trigger level, the payout at maturity will be par plus the final coupon. If the final share price is less than the trigger level, investors will be exposed to the decline of the shares from the initial share price.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying stock: | Fifth Third Bancorp
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| Amount: | $1,212,000
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| Maturity: | Sept. 8, 2023
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| Coupon: | 10.85% per year, payable monthly, if stock closes at or above its coupon barrier on the corresponding review date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless shares finish below trigger price, in which case investors will be exposed to the stock’s decline from initial level
|
| Call option: | At par plus any coupon due on any monthly review date other than the first, second and final dates
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| Initial share price: | $50.45
|
| Coupon barrier: | $35.315; 70% of initial share price
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| Trigger price: | $35.315; 70% of initial share price
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| Strike date: | Jan. 14
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.2%
|
| Cusip: | 48133CTV4
|
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