New York, June 14 – JPMorgan Chase Financial Co. LLC priced $1.4 million of callable contingent interest notes due Feb. 7, 2024 linked to the common stock of Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon, equivalent to 10.33333% for the term, if the stock closes at or above the downside threshold, 60% of the initial price, on the valuation date for that period. The first two coupons, if payable, will pay at a rate of $38.75 per $1,000 principal amount. The final, if payable, will be $25.833 per note.
The securities may be called at par on any quarterly determination date.
If the stock finishes at or above its 60% downside threshold, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% that the stock declines from initial level.
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: | Callable contingent interest notes
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| Underlying stock: | Freeport-McMoRan Inc.
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| Amount: | $1.4 million
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| Maturity: | Feb. 7, 2024
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| Coupon: | 10.33333% for the term, payable quarterly if closing price of shares is greater than or equal to downside threshold on valuation date for that period; first two coupons will pay $38.75 per note with the final coupon worth $25.833
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that stock declines from initial level
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| Call option: | At par on any quarterly determination date
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| Initial level: | $37.19
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| Downside threshold: | $22.314, 60% of initial level
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| Pricing date: | June 2
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| Settlement date: | June 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133WVR6
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