By William Gullotti
Buffalo, N.Y., Jan. 24 – JPMorgan Chase Financial Co. LLC priced $1.4 million of 19.65% market-linked securities – autocallable with fixed coupon and contingent downside due Jan. 22, 2025 linked to the stock performance of Rivian Automotive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be paid monthly.
The notes will be automatically called at par plus the fixed coupon if the stock closes at or above initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless the stock falls by more than 50%, in which case investors lose 1% for every 1% decline from its initial level.
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Market-linked securities – autocallable with fixed coupon and contingent downside
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| Underlying stock: | Rivian Automotive, Inc.
|
| Amount: | $1,397,000
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| Maturity: | Jan. 22, 2025
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| Coupon: | 19.65% annual rate, payable monthly
|
| Level: | Par
|
| Payout at maturity: | Par plus final coupon unless the stock falls by more than 50%, in which case full exposure to decline from initial level
|
| Call: | Automatically at par plus fixed coupon if the stock closes at or above initial level on any quarterly observation date after six months
|
| Initial level: | $17.82
|
| Threshold level: | $8.91; 50% of initial level
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
|
| Agents: | J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
|
| Fees: | 1.325%
|
| Cusip: | 48134TRV8
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