By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – JPMorgan Chase Financial Co. LLC priced $560,000 of autocallable contingent interest notes due Feb. 1, 2024 linked to the least performing of the common stocks of Martin Marietta Materials, Inc. and Vulcan Materials Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if each stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly call review date other than the first and final ones.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | Martin Marietta Materials, Inc. and Vulcan Materials Co.
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| Amount: | $560,000
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| Maturity: | Feb. 1, 2024
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| Coupon: | 9.25% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par if each stock closes at or above initial level on any quarterly call review date other than first and final ones
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| Initial levels: | $284.99 for Martin Marietta and $146.03 for Vulcan Materials
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| Trigger levels: | $170.994 for Martin Marietta and $86.618 for Vulcan Materials; 60% of initial levels
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| Pricing date: | Jan. 27
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| Settlement date: | Jan. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132RB90
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