By Kiku Steinfeld
Chicago, April 13 – JPMorgan Chase Financial Co. LLC priced $575,000 of autocallable contingent interest notes due Oct. 13, 2022 linked to Freeport-McMoRan Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15.3% if the stock closes at or above its 65% coupon barrier on the review date for that quarter, in which case the notes will also pay any previously unpaid coupons.
The notes will be called at par plus the contingent coupon and any previously unpaid coupons if the stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the coupon and any previously unpaid coupons unless the stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Freeport-McMoRan Inc.
|
| Amount: | $575,000
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| Maturity: | Oct. 13, 2022
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| Coupon: | 15.3% annualized, payable quarterly if stock closes at or above coupon barrier on review date for that quarter, in which case the notes will also pay any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon and any previously unpaid coupons unless the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon and any previously unpaid coupons if stock closes at or above initial level on any review date
|
| Initial level: | $32.24
|
| Coupon barrier level: | $20.956, 65% of initial level
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| Trigger level: | $20.956, 65% of initial level
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| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132WWP0
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