Chicago, June 27 – JPMorgan Chase Financial Co. LLC priced $1.55 million of callable contingent interest notes due Nov. 7, 2023 linked to the common stock of DexCom, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The contingent interest payment will be based on an annualized 14.05% coupon. The term of the notes is approximately five months. The review dates for interest payments are Aug. 31 and Nov. 2. If the stock closes above the 63% interest barrier on the related observation date, investors will receive 3.5125% for the first interest payment date and 2.34167% for the final date. The total interest rate over the five-month term is 5.85417%.
The securities may be called on Aug. 31 at par.
If the stock gains or ends above its 63% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level.
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: | Callable contingent interest notes
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| Underlying stock: | DexCom, Inc.
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| Amount: | $1.55 million
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| Maturity: | Nov. 7, 2023
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| Coupon: | 14.05% annual rate, payable if stock closes above interest barrier level on Aug. 31 and Nov. 2, with rate prorated accordingly
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level
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| Call: | On Aug. 31 at par at issuer’s option
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| Initial level: | $117.26
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| Interest barrier level: | $73.8738, 63% of initial level
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| Downside threshold: | $73.8738, 63% of initial level
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133XCW4
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