B y Kiku Steinfeld
Chicago, April 23 – JPMorgan Chase Financial Co. LLC priced $2.73 million of autocallable contingent interest notes due Oct. 6, 2022 linked to the Russell 1000 Value index, 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 quarterly coupon at an annual rate of 5.6% if the index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless the index finishes below its 70% trigger level, in which case investors will be fully exposed to the index’s decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying index: | Russell 1000 Value
|
| Amount: | $2,725,000
|
| Maturity: | Oct. 6, 2022
|
| Coupon: | 5.6% annualized, payable quarterly if index closes at or above coupon barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless index finishes below trigger level, in which case full exposure to decline
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any quarterly review date other than final date
|
| Initial level: | 1,507.534
|
| Coupon barrier: | 1,055.2738, 70% of initial level
|
| Trigger level: | 1,055.2738, 70% of initial level
|
| Pricing date: | April 1
|
| Settlement date: | April 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132TLT1
|
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