By Kiku Steinfeld
Chicago, Oct. 6 – JPMorgan Chase Financial Co. LLC priced $500,000 of callable contingent interest notes due July 14, 2022 linked to the shares of Phillips 66, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 4% if the stock closes at or above its 57% coupon barrier on the relevant review date.
The notes may be called at par plus any coupon due on any quarterly review date other than the final.
If the notes have not been called and the final share price is greater than or equal to the 57% trigger level, the payout at maturity will be par plus the final coupon. If the final share price is less than the trigger level, investors will be exposed to the decline of the shares from the initial share price.
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: | Callable contingent interest notes
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| Underlying stock: | Phillips 66
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| Amount: | $500,000
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| Maturity: | July 14, 2022
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| Coupon: | 4% per year, payable quarterly, if stock closes at or above its coupon barrier on the corresponding review date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless shares finish below trigger price, in which case investors will be exposed to the stock’s decline from initial level
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| Call option: | At par plus any coupon due on any quarterly review date other than the final
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| Initial share price: | $82.70
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| Coupon barrier: | $47.139; 57% of initial share price
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| Trigger price: | $47.139; 57% of initial share price
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| Pricing date: | July 9
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| Settlement date: | July 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48132U2M4
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