Chicago, Feb. 9 – JPMorgan Chase Financial Co. LLC priced $1.84 million of contingent income autocallable securities due April 19, 2024 linked to Amgen Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The securities will pay a contingent quarterly coupon at an annualized rate of 8.15% if the underlying stock closes at or above the 80% downside threshold on the related observation date.
If the underlying stock closes at or above its initial price on any of the quarterly determination dates starting after six months, the securities will be redeemed at par plus the contingent coupon.
If the underlying stock finishes at or above the 80% downside threshold, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the losses of the stock.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Amgen Inc.
|
| Amount: | $1,838,000
|
| Maturity: | April 19, 2024
|
| Coupon: | 8.15% annualized, payable quarterly if the underlying stock closes at or above downside threshold on the relevant observation date
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise, full exposure to losses of stock
|
| Call: | At par plus contingent coupon if underlying stock closes at or above initial share price on any quarterly determination date after six months
|
| Initial share price: | $255.71
|
| Downside threshold: | $204.568; 80% of initial price
|
| Pricing date: | April 16
|
| Settlement date: | April 21
|
| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 2.5%
|
| Cusip: | 48132V440
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