By Marisa Wong
Los Angeles, Dec. 30 – JPMorgan Chase Financial Co. LLC priced $1.04 million of autocallable contingent interest notes due March 1, 2022 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.
If Ford stock closes at or above the trigger price – 63% of the initial share price – on a monthly review date, the issuer will pay a contingent coupon for that month at a rate of 10% per year. Otherwise, no coupon will be paid that month.
If the shares close at or above the initial price on a monthly review date other than the first five and final review dates, the notes will be called at par plus the contingent coupon.
If the notes are not called and Ford shares finish at or above the trigger price, 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: | Ford Motor Co. (NYSE: F)
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| Amount: | $1,036,000
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| Maturity: | March 1, 2022
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| Coupon: | 10%, payable each month that stock closes at or above trigger price on review date for that month
|
| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if Ford shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if Ford shares close at or above initial price on a monthly review date other than first five and final review dates
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| Initial share price: | $9.45
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| Trigger price: | $5.9535, 63% of initial price
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 30
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
|
| Cusip: | 48132P2X1
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