By Taylor Fox
New York, Feb. 1 – JPMorgan Chase Financial Co. LLC priced $1.05 million of autocallable contingent interest notes due July 5, 2023 linked to the common stock of Walgreens Boots Alliance, Inc., 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 10.5% if the stock closes above its 70% coupon barrier price on the related review date.
If the stock closes above 95% of its initial price on any monthly review date after three months, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par if the stock finishes above its 70% trigger level.
Otherwise, investors will be fully exposed to the decline of the stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Walgreens Boots Alliance, Inc.
|
| Amount: | $1,045,000
|
| Maturity: | July 5, 2023
|
| Coupon: | 10.5% annual rate, payable quarterly if the stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if the stock finishes above final barrier; otherwise, full exposure to losses of lesser performing stock
|
| Call: | At par plus interest payment if stock finishes above 95% of initial level on quarterly review date after three months
|
| Initial price: | $39.41
|
| Trigger level: | $27.587, 70% of initial price
|
| Final barrier price: | $27.587, 70% of initial price
|
| Call level: | 95% of initial price
|
| Pricing date: | Dec. 29
|
| Settlement date: | Jan. 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.25%
|
| Cusip: | 48132RAG5
|
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