By Sarah Lizee
Olympia, Wash., Sept. 2 – JPMorgan Chase Financial Co. LLC priced $857,000 of autocallable contingent interest notes due March 3, 2023 linked to Five Below, Inc. and Chewy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 18% if the lesser performing stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the lesser performing stock closes at or above 85% of its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the coupon unless the lesser performing stock finishes below its 60% barrier level, in which case investors will be exposed to any losses of the lesser performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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 assets: | Five Below, Inc. and Chewy, Inc.
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| Amount: | $857,000
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| Maturity: | March 3, 2023
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| Coupon: | 18% annualized, payable quarterly if lesser performing stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the lesser performing stock finishes below its barrier level, in which case investors will be fully exposed to any losses of lesser performing stock
|
| Call: | At par plus the contingent coupon if the lesser performing stock closes at or above 85% of its initial level on any quarterly review date other than the final one
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| Initial levels: | $109.45 for Five, $61.07 for Chewy
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| Coupon barrier levels: | $65.67 for Five, $36.642 for Chewy, 60% of initial levels
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| Barrier levels: | $65.67 for Five, $36.642 for Chewy, 60% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48132M7H8
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