By Taylor Fox
New York, March 29 – JPMorgan Chase Financial Co. LLC priced $2.21 million of autocallable contingent interest notes due March 19, 2026 linked to the least performing of the common stocks of Citigroup Inc. and Wells Fargo & Co., 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 8.5% if each stock closes above its 60% trigger level on the relevant review date.
If the stocks close above their initial levels on any quarterly review date, other than the first, second, third and final dates, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus any contingent interest payment due if the final levels of all stocks are above the final barriers, 60% of the initial price.
Otherwise, investor will be full exposed to the decline of the lesser performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Citigroup Inc. and Wells Fargo & Co.
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| Amount: | $2,205,000
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| Maturity: | March 19, 2026
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| Coupon: | 8.5% annual rate, payable quarterly if each stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus interest payment if all stocks finish above final barrier; otherwise, full exposure to losses of least performing stock
|
| Call: | At par plus interest payment if stocks finish above initial level on quarterly review date, other than the first, second, third and final dates
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| Initial prices: | $74.22 for Citigroup and $39.70 for Wells Fargo
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| Trigger levels: | $44.532 for Citigroup and $23.82 for Wells Fargo, 60% of initial price
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| Final barrier prices: | $44.532 for Citigroup and $23.82 for Wells Fargo, 60% of initial price
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| Pricing date: | March 15
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| Settlement date: | March 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.35%
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| Cusip: | 48132TDR4
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