By Taylor Fox
New York, Sept. 14 – JPMorgan Chase Financial Co. LLC priced $1.93 million autocallable contingent interest notes due Dec. 2, 2021 linked to the common stock of Microsoft Corp., 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 7.5% if the stock closes above its coupon barrier, 70% of its initial price, on the relevant review date.
If the stock closes above its initial level on any quarterly review date except the first and final dates, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus the contingent interest payment if the final level of the stock closes at or above its final trigger value, 70% of its initial price.
Otherwise, investor will be full 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: | Microsoft Corp.
|
| Amount: | $1,928,000
|
| Maturity: | Dec. 2, 2021
|
| Coupon: | 7.5%, payable quarterly if stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if stock finishes above trigger value; otherwise full exposure to losses of stock
|
| Call: | At par plus interest payment if stock finishes above initial level on any quarterly review date except first and final dates
|
| Initial price: | $228.91
|
| Coupon barrier/trigger value: | $160.237, 70% of initial price
|
| Pricing date: | Aug. 28
|
| Settlement date: | Sept. 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132MD32
|
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