By Taylor Fox
New York, March 12 – JPMorgan Chase Financial Co. LLC priced $2.02 million of autocallable contingent interest notes due Feb. 29, 2024 linked to the common stock of RingCentral, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly interest payment at a rate of 10% if the stock closes above its coupon barrier, 50% of its initial price, on the relevant review date.
If the stock closes above its initial level on any quarterly review date, the notes will be automatically called at par.
The payout at maturity will be par unless the stock finishes below its trigger level, 50% of its initial price.
Otherwise, investor will be fully exposed to the decline of the stock at maturity.
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: | RingCentral, Inc.
|
| Amount: | $2,022,000
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| Maturity: | Feb. 29, 2024
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| Coupon: | 10% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below its trigger level, in which case full exposure to losses
|
| Call: | At par if stock finishes above initial level on any quarterly review date
|
| Initial price: | $378.16
|
| Coupon barrier: | $189.08, 50% of initial price
|
| Trigger value: | $189.08, 50% of initial price
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132RG38
|
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