By William Gullotti
Buffalo, N.Y., Oct. 5 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due Oct. 24, 2022 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a monthly contingent interest payment at an annual rate of 22.85% if the stock closes above its 70% coupon barrier level on the relevant review date.
If the stock closes above its initial level on any monthly review date other than the first, second and final dates, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus the final contingent interest payment if the stock finishes 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Tesla, Inc.
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| Amount: | $250,000
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| Maturity: | Oct. 24, 2022
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| Coupon: | 22.85% annual rate, payable monthly if stock closes at or above coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus interest payment if stock finishes above trigger price; otherwise, full exposure to losses of stock
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| Call: | At par plus interest payment if stock finishes above initial level on monthly review date other than the first, second and final dates
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| Initial price: | $646.22
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| Coupon barrier level: | $452.354; 70% of initial price
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| Trigger level: | $452.354; 70% of initial price
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| Pricing date: | July 19
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| Settlement date: | July 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48132U3P6
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