By William Gullotti
Buffalo, N.Y., Aug. 12 – JPMorgan Chase Financial Co. LLC priced $275,000 of autocallable contingent interest notes due June 15, 2023 linked to the performance of Apple Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 8.1% if each stock closes at or above its interest barrier level, 80% of its initial level, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 80% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | Apple Inc., Microsoft Corp.
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| Amount: | $275,000
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| Maturity: | June 15, 2023
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| Coupon: | 8.1% annualized, payable quarterly if each stock closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of least performing stock from initial level
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly review date
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| Initial levels: | $126.11 for Apple, $257.24 for Microsoft
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| Interest barrier: | $100.888 for Apple, $205.792 for Microsoft; 80% of initial values
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| Trigger levels: | $100.888 for Apple, $205.792 for Microsoft; 80% of initial values
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| Strike date: | June 10
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| Pricing date: | June 11
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| Settlement date: | June 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
|
| Cusip: | 48132UB77
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