By Kiku Steinfeld
Chicago, July 28 – JPMorgan Chase Financial Co. LLC priced $1.15 million of autocallable contingent interest notes due July 20, 2023 linked to Netflix, Inc. stock, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13% if the stock closes at or above the 60% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly review date other than the first and final dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 60% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Netflix, Inc.
|
| Amount: | $1,145,000
|
| Maturity: | July 20, 2023
|
| Coupon: | 13%, payable quarterly if stock closes at or above 60% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless the stock finishes below 60% trigger level, in which case investors will be fully exposed to the stock’s losses
|
| Call: | At par plus contingent coupon if shares close at or above initial price on any quarterly review date other than first and final dates
|
| Initial level: | $523.26
|
| Trigger level: | $313.956, 60% of the initial level
|
| Pricing date: | July 15
|
| Settlement date: | July 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132MUE9
|
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