By Wendy Van Sickle
Columbus, Ohio, July 29 – JPMorgan Chase Financial Co. LLC priced $1.79 million of autocallable contingent interest notes due July 25, 2024 linked to the common stock of Wheaton Precious Metals Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if the stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the 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 the stock finishes below its 60% trigger level, in which case investors will be fully exposed to the stock’s losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Wheaton Precious Metals Corp.
|
| Amount: | $1,792,000
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| Maturity: | July 25, 2024
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| Coupon: | 7% annualized, payable quarterly if stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will be fully exposed to the stock’s losses
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any review date other than first and final dates
|
| Initial level: | $43.96
|
| Coupon barrier level: | $26.376, 60% of initial level
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| Trigger level: | $26.376, 60% of initial level
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| Pricing date: | July 22
|
| Settlement date: | July 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48132U4X8
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