By Wendy Van Sickle
Columbus, Ohio, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $1.16 million of autocallable contingent interest notes due Nov. 23, 2021 linked to the common stock of Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If Home Depot stock closes at or above the coupon barrier, 72.5% of the initial price, on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 7.6% per year. Otherwise, no coupon will be paid for that quarter.
If the shares close at or above the initial price on any monthly review date, other than the first, second, third, fourth, fifth and final review dates, the notes will be called at par plus the contingent coupon.
If the notes are not called and Home Depot shares finish at or above the initial level or never close below the 72.5% trigger level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Home Depot, Inc.
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| Amount: | $1,161,000
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| Maturity: | Nov. 23, 2021
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| Coupon: | 7.6% per year, payable each month that stock closes at or above coupon barrier on review date for that month
|
| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if Home Depot shares finish at or above initial level or never close below trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Home Depot shares close at or above initial price on any quarterly review date other than the first, second, third, fourth, fifth and final review dates
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| Initial price: | $285.00
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| Coupon barrier: | $206.625, 72.5% of initial price
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| Trigger price: | $206.625, 72.5% of initial price
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 21
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
|
| Cusip: | 48132M5C1
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