By Kiku Steinfeld
Chicago, June 18 – JPMorgan Chase Financial Co. LLC priced $3.68 million of autocallable contingent interest notes due June 13, 2024 linked to the lesser performing of the common stocks of Home Depot, Inc. and Lowe’s Cos., 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 9.5% if each stock closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless either stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse 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 stocks: | Home Depot, Inc. and Lowe’s Cos., Inc.
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| Amount: | $3,681,000
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| Maturity: | June 13, 2024
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| Coupon: | 9.5% annualized, payable quarterly if each stock closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either stock closes below 70% trigger, in which case 1% loss for each 1% decline of worse performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than first and final dates
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| Initial levels: | $310.90 for Home Depot, $191.40 for Lowe’s
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| Trigger levels: | $217.63 for Home Depot, $ $133.98 for Lowe’s, 70% of initial levels
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| Pricing date: | June 8
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| Settlement date: | June 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48132UKL6
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