By Wendy Van Sickle
Columbus, Ohio, May 17 – JPMorgan Chase Financial Co. LLC priced $307,000 of autocallable contingent interest notes due April 26, 2024 linked to the least performing of the common stocks of Applied Materials, Inc., Skyworks Solutions, Inc. and Lam Research Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.8% if each stock closes at or above its 60% coupon barrier on the review date for that quarter.
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 dates.
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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Applied Materials, Inc., Skyworks Solutions, Inc. and Lam Research Corp.
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| Amount: | $307,000
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| Maturity: | April 26, 2024
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| Coupon: | 10.8% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| 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
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| Call: | At par plus contingent coupon if each stock closes at or above initial share price on any quarterly call review date
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| Initial share prices: | $134.86 for Applied Materials, $190.92 for Skyworks and $627.49 for Lam
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| Coupon barriers: | $80.916 for Applied Materials, $114.552 for Skyworks and $376.494 for Lam; 60% of initial prices
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| Trigger levels: | $80.916 for Applied Materials, $114.552 for Skyworks and $376.494 for Lam; 60% of initial prices
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| Pricing date: | April 26
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| Settlement date: | April 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132T2A3
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