Chicago, Sept. 1 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Aug. 28, 2024 linked to the lesser performing of the common stocks of Microsoft Corp. and Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.05%, paid quarterly, if each underlying stock closes at or above its 75% interest barrier level on the related quarterly observation date.
The securities will be called automatically at par on any quarterly review date if each stock closes at or above its initial level starting after one year.
At maturity the payout will be par unless the lesser performing stock closes below its 75% buffer level, in which case investors will lose 1% for each 1% decline beyond the 25% buffer.
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 stocks: | Microsoft Corp. and Ford Motor Co.
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| Amount: | $500,000
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| Maturity: | Aug. 28, 2024
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| Coupon: | 18.05% annual rate, paid quarterly, if each underlying stock closes at or above its interest barrier level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless lesser performing stock closes below its buffer level, in which case investors will lose 1% for each 1% decline beyond the buffer
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| Call: | Automatically at par on any quarterly review date after one year if each stock closes at or above its initial level
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| Initial levels: | $276.44 for Microsoft, $15.32 for Ford
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| Interest barrier levels: | $207.33 for Microsoft, $11.49 for Ford; 75% of initial levels
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| Buffer levels: | $207.33 for Microsoft, $11.49 for Ford; 75% of initial levels
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| Strike date: | Aug. 23
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| Pricing date: | Aug. 25
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| Settlement date: | Aug. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133MTP5
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