By Kiku Steinfeld
Chicago, Feb. 7 – JPMorgan Chase Financial Co. LLC priced $688,000 of autocallable contingent interest notes due March 3, 2023 linked to the shares of Tesla, 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 14.7% if the stock closes at or above its 70% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any monthly review date other than the first, second and final dates.
The payout at maturity will be par unless the stock finishes below its 60% trigger level, in which case investors will lose 1% for every 1% decline.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Tesla, Inc.
|
| Amount: | $688,000
|
| Maturity: | March 3, 2023
|
| Coupon: | 14.7% annualized, payable monthly if stock closes at or above coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will lose 1% for every 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any monthly review date other than first, second and final dates
|
| Initial level: | $735.72
|
| Coupon barrier level: | $515.004, 70% of initial level
|
| Trigger level: | $441.432, 60% of initial level
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132WJG5
|
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