By Kiku Steinfeld
Chicago, May 3 – JPMorgan Chase Financial Co. LLC priced $530,000 of autocallable contingent interest notes due April 4, 2024 linked to the least performing of the common stocks of Apple Inc., UnitedHealth Group Inc. and Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission. Initially, the offer was sized at $535,000, according to an earlier filing.
The notes will pay a contingent monthly coupon at an annual rate of 14.5% if each stock closes at or above its 80% coupon barrier on the review date for that month, plus any previously unpaid coupon.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call review date after six months.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to the losses of the worst performing stock.
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.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Apple Inc., UnitedHealth Group Inc. and Qualcomm Inc.
|
| Amount: | $530,000
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| Maturity: | April 4, 2024
|
| Coupon: | 14.5% annualized, payable monthly plus any previously unpaid coupon if each stock closes at or above 80% coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below 60% trigger level, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial share price on any quarterly call review date after six months
|
| Initial share prices: | $123.00 for Apple, $367.07 for UnitedHealth and $137.79 for Qualcomm
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| Coupon barriers: | $98.40 for Apple, $293.656 for UnitedHealth and $110.232 for Qualcomm; 80% of initial prices
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| Trigger levels: | $73.80 for Apple, $220.242 for UnitedHealth and $82.674 for Qualcomm; 60% of initial share prices
|
| Pricing date: | April 1
|
| Settlement date: | April 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48132TQB5
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