By William Gullotti
Buffalo, N.Y., Aug. 11 – JPMorgan Chase Financial Co. LLC priced $1.97 million of autocallable contingent interest notes due May 22, 2024 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 6.65% if the stock closes above its 70% coupon barrier level on the relevant review date.
After six months, if the stock closes above its initial level on any quarterly review date, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus any contingent interest payment due if the final level of the stock closes at or above its trigger price, 70% of its initial price.
Otherwise, investors will be fully exposed to the decline of the stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Microsoft Corp.
|
| Amount: | $1,967,000
|
| Maturity: | May 22, 2024
|
| Coupon: | 6.65% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if stock finishes above trigger price; otherwise, full exposure to losses of stock
|
| Call: | At par plus interest payment if stock finishes above initial level on quarterly review date after six months
|
| Initial price: | $245.18
|
| Coupon barrier level: | $171.626; 70% of initial price
|
| Trigger level: | $171.626; 70% of initial price
|
| Pricing date: | May 17
|
| Settlement date: | May 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48132TV78
|
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