By William Gullotti
Buffalo, N.Y., Jan. 3 – JPMorgan Chase Financial Co. LLC priced $1.65 million of autocallable contingent interest notes due May 17, 2023 linked to the least performing of Tesla, Inc. stock and the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 18% if each underlier closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any monthly review date other than the first, second and final review dates.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its interest barrier.
If the worst performer finishes below its interest barrier but at or above its 60% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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 assets: | Tesla, Inc., ARK Innovation ETF
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Amount: | $1,649,000
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Maturity: | May 17, 2023
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Coupon: | 18% annual rate, payable monthly if each underlier closes at or above interest barrier level on review date for that period
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Price: | Par
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Payout at maturity: | If each underlier finishes at or above interest barrier, par plus final coupon; if the worst performer finishes below coupon barrier but at or above trigger level, par; otherwise, lose 1% for every 1% decline of worst performer from initial level
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any monthly review date other than the first, second and final dates
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Initial levels: | $118.49 for ETF, $1,033.42 for Tesla
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Interest barrier: | $82.943 for ETF, $723.394 for Tesla; 70% of initial levels
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Trigger levels: | $71.094 for ETF, $620.052 for Tesla; 60% of initial levels
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Pricing date: | Nov. 12
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Settlement date: | Nov. 17
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48132YRJ6
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