By Kiku Steinfeld
Chicago, April 23 – JPMorgan Chase Financial Co. LLC priced $1.76 million of autocallable contingent interest notes due April 4, 2024 linked to General Motors Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If General Motors shares close at or above the 60% trigger level on a quarterly review date, the notes will pay a coupon at an annualized rate of 11% for that quarter.
If the shares close at or above the initial share price on any review date other than the first and final review dates, the notes will be called at par plus the coupon.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to losses.
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: | General Motors Co.
|
| Amount: | $1,755,000
|
| Maturity: | April 4, 2024
|
| Coupon: | 11% per year, payable quarterly if General Motors stock at or above trigger price that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless General Motors shares finish below trigger price, in which case investors share fully in losses
|
| Call: | At par plus contingent coupon if closing share price is at or above initial share price on any review date other than first and final review dates
|
| Initial share price: | $57.80
|
| Trigger price: | $34.68, 60% of initial share price
|
| Pricing date: | April 1
|
| Settlement date: | April 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132TPR1
|
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