By Kiku Steinfeld
Chicago, Sept. 13 – JPMorgan Chase Financial Co. LLC priced $2.68 million of 10% autocallable yield notes due Oct. 5, 2022 linked to the common stock of Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
After six months, if the shares close at or above the initial price on a monthly review date, the notes will be called at par plus the coupon.
If the notes are not called and the shares finish at or above the trigger price, 68% of the initial price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying stock: | Freeport-McMoRan Inc.
|
| Amount: | $2,684,000
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| Maturity: | Oct. 5, 2022
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| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if shares finish at or above trigger price; otherwise, 1% loss for each 1% decline in stock
|
| Call: | Automatically at par plus coupon if shares close at or above initial price on any monthly review date after six months
|
| Initial share price: | $36.39
|
| Trigger price: | $24.7452, 68% of initial price
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132WHZ5
|
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