By William Gullotti
Buffalo, N.Y., June 26 – JPMorgan Chase Financial Co. LLC priced $1.01 million of autocallable contingent interest notes due June 20, 2025 linked to the common stock of Ford Motor Co., 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 17.43% if the stock closes at or above its 80% coupon barrier level on the relevant review date. Previously unpaid contingent interest payments, if any, will be automatically included whenever a payment is made.
If the stock closes at or above its initial level on any quarterly review date other than the final, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus the final contingent interest payment if the stock finishes at or above its trigger price, 80% of its initial price.
Otherwise, investors will be fully exposed to the decline of the stock from its initial price.
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: | Ford Motor Co.
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| Amount: | $1.01 million
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| Maturity: | June 20, 2025
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| Coupon: | 17.43% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par plus interest payment if stock finishes at or above trigger price; otherwise, lose 1% for every 1% decline of the stock from initial price
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| Call: | At par plus interest payment if stock closes at or above initial level on quarterly review date other than the final
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| Initial price: | $14.42
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| Coupon barrier level: | $11.536; 80% of initial price
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| Trigger level: | $11.536; 80% of initial price
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| Pricing date: | June 16
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| Settlement date: | June 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48133XVX1
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