By William Gullotti
Buffalo, N.Y., April 21 – JPMorgan Chase Financial Co. LLC priced $1.54 million of autocallable contingent interest notes due April 18, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay contingent monthly interest at an annual rate of 11.5% if the index closes at or below its 115% interest barrier on the related review date.
The notes will be called at par plus the coupon if the index closes at or below its initial level on any monthly review date after three months.
The payout at maturity will be par plus the final coupon unless the index finishes above the 115% trigger level, in which case investors will lose 1% for each 1% gain of the index 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 index: | S&P 500 index
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| Amount: | $1,535,000
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| Maturity: | April 18, 2024
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| Coupon: | 11.5% annual rate, payable monthly if the index closes at or below its interest barrier on the related monthly review date
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the index finishes above trigger level, in which case investors will lose 1% for every 1% incline from the index’s initial level
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| Call: | Automatically at par plus the contingent interest payment if the index closes at or below its initial level on any monthly review date after three months
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| Initial level: | 4,137.64
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| Interest barrier: | 4,758.286; 115% of initial level
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| Trigger level: | 4,758.286; 115% of initial level
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| Pricing date: | April 14
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| Settlement date: | April 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.25%
|
| Cusip: | 48133V4E7
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