By William Gullotti
Buffalo, N.Y., Sept. 17 – JPMorgan Chase Financial Co. LLC sold $2.9 million of autocallable contingent interest notes due June 29, 2023 linked to the performance of the stocks of Opendoor Technologies Inc. and Zillow Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 13.5% if each stock closes at or above its interest barrier level, 60% of its initial level, on the review date for that month.
The notes will be automatically called at par plus coupon if each stock closes at or above 80% of its initial level on any monthly call date after three months.
The payout at maturity will be par plus any final coupon due, unless any stock finishes below the 50% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
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 stocks: | Opendoor Technologies Inc., Zillow Group, Inc.
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Amount: | $2.9 million
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Maturity: | June 29, 2023
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Coupon: | 13.5% annualized, payable monthly if each underlying stock closes at or above interest barrier level on review date for that month
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Price: | Par
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Payout at maturity: | Par plus any final coupon due, unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of worst performing stock from initial level
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Call option: | Automatically at par plus coupon if each stock closes at or above 80% of its initial level on any monthly call date after three months
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Initial levels: | $17.11 for Opendoor, $118.61 for Zillow
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Interest barriers: | $10.266 for Opendoor, $71.166 for Zillow; 60% of initial levels
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Trigger values: | $8.555 for Opendoor, $59.305 for Zillow; 50% of initial levels
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Pricing date: | June 20
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Settlement date: | June 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.25%
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Cusip: | 48132URH8
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