By Kiku Steinfeld
Chicago, Jan. 19 – JPMorgan Chase Financial Co. LLC priced $1.96 million of autocallable contingent interest notes due Jan. 11, 2024 linked to Nvidia Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 10.5% if the stock closes at or above its 65% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par plus the final coupon unless the stock finishes below its initial level and ever closes below its 65% trigger level, in which case investors will be fully exposed to any losses.
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: | Nvidia Corp.
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| Amount: | $1,956,000
|
| Maturity: | Jan. 11, 2024
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| Coupon: | 10.5% annualized, payable quarterly if stock closes at or above 65% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless stock finishes below initial level and ever closes below 65% trigger, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly review other than first and final dates
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| Initial level: | $531.07
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| Trigger level: | $345.1955, 65% of initial level
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| Pricing date: | Jan. 8
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| Settlement date: | Jan. 13
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132RGF1
|
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