New York, Oct. 27 – JPMorgan Chase Financial Co. LLC priced $1.21 million of callable contingent interest notes due Sept. 25, 2024 linked to the common stock of Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid quarterly, if the underlying stock closes at or above its 60% trigger level on the related quarterly observation date.
The securities may be called at par on any quarterly review date starting March 23, 2023.
If the stock finishes at or above its 60% downside threshold, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the stock declines from initial level.
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: | Callable contingent interest notes
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| Underlying stock: | Southwest Airlines Co.
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| Amount: | $1,207,000
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| Maturity: | Sept. 25, 2024
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| Coupon: | 12%, paid quarterly, if the underlying stock closes at or above its 60% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that stock declines from initial level
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| Call option: | At par on any quarterly review date starting March 23, 2023
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| Initial level: | $35.09
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| Downside threshold: | $21.054, 60% of initial level
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48133MY95
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