By William Gullotti
Buffalo, N.Y., June 9 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due May 15, 2023 linked to the common stock of Snap Inc., 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 15.1% if the stock closes above its 60% coupon barrier level on the relevant review date.
If the stock closes above its strike level on any quarterly review date other than the final, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus any contingent interest payment due if the final level of the stock closes at or above its trigger price, 60% of its strike price.
Otherwise, investors will be fully exposed to the decline of the stock.
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: | Snap Inc.
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| Amount: | $250,000
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| Maturity: | May 15, 2023
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| Coupon: | 15.1% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if stock finishes above trigger price; otherwise, full exposure to losses of stock
|
| Call: | At par plus interest payment if stock finishes above strike level on quarterly review date other than the final
|
| Initial level: | $52.14
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| Coupon barrier level: | $31.284; 60% of strike price
|
| Trigger level: | $31.284; 60% of strike price
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| Strike date: | May 10
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| Pricing date: | May 13
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| Settlement date: | May 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48132TS31
|
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