By Kiku Steinfeld
Chicago, Sept. 20 – JPMorgan Chase Financial Co. LLC priced $1.6 million of autocallable contingent interest notes due Sept. 29, 2022 linked to Apple Inc. shares, 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 monthly coupon at an annualized rate of 10.15% if the stock closes at or above its coupon barrier level, 74% of the initial level, on the observation date for that period.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any monthly valuation date other than the first through fifth and final dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its initial price and ever closes below its 74% trigger level, in which case investors will be fully exposed to any losses.
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: | Apple Inc.
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| Amount: | $1,602,000
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| Maturity: | Sept. 29, 2022
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| Coupon: | 10.15% per year, payable each month that stock closes at or above its interest barrier on the observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below its initial price and has ever closed below its trigger level during the life of the notes, in which case full exposure to the stock’s losses
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| Call: | At par plus the contingent coupon if stock closes at or above the initial level on any monthly valuation date other than the first through fifth and final dates
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| Initial level: | $133.11
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| Interest barrier: | $98.5014, 74% of initial level
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| Trigger level: | $98.5014, 74% of initial level
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48132URB1
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