By Kiku Steinfeld
Chicago, Aug. 10 – JPMorgan Chase Financial Co. LLC priced $2.04 million of autocallable contingent interest notes due July 19, 2024 linked to the shares of ViacomCBS Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.45% 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 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 the stock’s 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: | ViacomCBS Inc.
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Amount: | $2,043,000
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Maturity: | July 19, 2024
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Coupon: | 11.45% annualized, payable quarterly if stock closes at or above coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will be fully exposed to the stock’s losses
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Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly review date other than the final date
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Initial level: | $40.29
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Coupon barrier level: | $28.203, 70% of initial level
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Trigger level: | $28.203, 70% of initial level
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Pricing date: | July 16
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Settlement date: | July 21
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48132U3E1
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