By Wendy Van Sickle
Columbus, Ohio, Nov. 11 – JPMorgan Chase Financial Co. LLC priced $4.71 million of autocallable contingent interest notes due Dec. 8, 2022 linked to Apple Inc. shares, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.7% if the stock closes at or above its coupon barrier level, 75% of its initial price, on the review date for that month.
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 than the first though fifth and final dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 75% 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.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Apple Inc.
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| Amount: | $4,711,000
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| Maturity: | Dec. 8, 2022
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| Coupon: | 7.7%, payable monthly if stock closes at or above barrier level on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par plus the contingent coupon unless the stock finishes below its trigger level, in which case investors will be fully exposed to the stock’s losses
|
| Call: | At par if stock closes at or above its initial level on any monthly review date other than first through fifth and final review dates
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| Initial price: | $151.28
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| Barrier level: | $113.46, 75% of initial price
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| Pricing date: | Nov. 5
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| Settlement date: | Nov. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
|
| Cusip: | 48132YC86
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