By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – JPMorgan Chase Financial Co. LLC priced $10 million of autocallable contingent interest notes due Feb. 7, 2022 linked to the American depository shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 16.2% if the stock closes at or above its 80% coupon barrier on the review date for that quarter, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par plus the coupon unless the stock finishes below its 80% buffer level, in which case investors will lose 1.25% for each 1% decline of the stock beyond 20%.
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: | Autocallable contingent interest notes
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| Underlying stock: | Alibaba Group Holding Ltd.
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| Amount: | $10 million
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| Maturity: | Feb. 7, 2022
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| Coupon: | 16.2% annualized, payable quarterly if stock closes at or above coupon barrier on review date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the stock finishes below its buffer level, in which case investors will lose 1.25% for each 1% stock decline beyond 20%
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly review date other than final date
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| Initial level: | $254.50
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| Coupon barrier level: | $203.60 80% of initial level
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| Buffer level: | $203.60, 80% of initial level
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| Pricing date: | Jan. 27
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| Settlement date: | Feb. 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48132RXT2
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