By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – JPMorgan Chase Financial Co. LLC priced $4.73 million of autocallable contingent interest notes due Dec. 1, 2021 linked to the least performing of the common stocks of L3Harris Technologies, Inc., Lockheed Martin Corp. and Raytheon Co., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above its trigger value, 65% of its initial share price, on a quarterly review date, the notes will pay a contingent coupon that quarter at the rate of 9.25% per year.
The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.
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 stocks: | L3Harris Technologies, Inc., Lockheed Martin Corp. and Raytheon Co.
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Amount: | $4,727,000
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Maturity: | Dec. 1, 2021
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Coupon: | 9.25%, payable quarterly if each stock closes at or above trigger value 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 trigger value, in which case 1% loss for every 1% that least-performing stock finishes below initial share price
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Call: | Automatically at par if each stock closes at or above initial share price on any quarterly review date other than final one
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Initial share prices: | $199.71 for L3Harris, $392.50 for Lockheed, $217.11 for Raytheon
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Trigger values: | $129.8115 for L3Harris, $255.125 for Lockheed, $114.1215 for Raytheon, or 65% of initial share prices
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Pricing date: | Nov. 26
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Settlement date: | Nov. 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.35%
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Cusip: | 48132FW93
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