By Sarah Lizee
Olympia, Wash., July 20 – JPMorgan Chase Financial Co. LLC priced $700,000 of autocallable contingent interest notes due Jan. 20, 2023 linked to Slack Technologies, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 19.2% if the stock closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above 90% of its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless the stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses.
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: | Slack Technologies, Inc.
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| Amount: | $700,000
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| Maturity: | Jan. 20, 2023
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| Coupon: | 19.2% annualized, payable quarterly if stock closes at or above its coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon if stock closes at or above 90% of initial level on any quarterly review date other than the final date
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| Initial level: | $31.61
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| Coupon barrier/trigger level: | $22.127, 70% of initial level
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| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
|
| Cusip: | 48132MTM3
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