By Kiku Steinfeld
Chicago, Oct. 4 – JPMorgan Chase Financial Co. LLC priced $2.08 million of autocallable contingent interest notes due Sept. 25, 2023 linked to the common stock of United States Steel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 10.5% if the stock closes above its 70% coupon barrier level on the relevant review date.
If the stock closes at or above its initial level on any quarterly review date other than the first and final ones, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par if the final level of the stock closes at or above its buffer price, 60% of its initial price.
Otherwise, investors will be fully exposed to the decline of the stock beyond 30%.
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: | United States Steel Corp.
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| Amount: | $2,075,000
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| Maturity: | Sept. 25, 2023
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| Coupon: | 10.5% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if stock finishes at or above buffer price; otherwise, full exposure to losses of stock beyond buffer
|
| Call: | At par plus interest payment if stock finishes at or above initial level on quarterly review date other than the first and final review dates
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| Initial price: | $21.84
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| Coupon barrier level: | $15.288; 70% of initial price
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| Buffer level: | $13.104; 60% of initial price
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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
|
| Fees: | 0.65%
|
| Cusip: | 48132WSM2
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