By Wendy Van Sickle
Columbus, Ohio, May 19 – JPMorgan Chase Financial Co. LLC priced $2.14 million of autocallable contingent interest notes due May 2, 2024 linked to the least performing of the common stocks of Target Corp., Southwest Airlines Co. and NIKE, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11% if each stock closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call review date after six months.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to the losses of the worst performing stock.
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: | Target Corp., Southwest Airlines Co. and NIKE, Inc.
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| Amount: | $2,141,000
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| Maturity: | May 2, 2024
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| Coupon: | 11% annualized, payable monthly if each stock closes at or above 60% coupon barrier on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below 60% trigger level, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial share price on any quarterly call review date after six months
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| Initial share prices: | $204.36 for Target, $62.40 for Southwest and $132.11 for NIKE
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| Coupon barriers: | $122.616 for Target, $37.44 for Southwest and $79.266 for NIKE; 60% of initial prices
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| Trigger levels: | $122.616 for Target, $37.44 for Southwest and $79.266 for NIKE; 60% of initial prices
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48132TPF7
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