By Wendy Van Sickle
Columbus, Ohio, Feb. 4 – JPMorgan Chase Financial Co. LLC priced $1 million of callable contingent interest notes due Feb. 2, 2023 linked to the common stock of Starbucks Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.25% if stock closes at or above the interest barrier, 70% of the initial share price, on the review date for that quarter.
The notes are callable at par on any interest payment date other than the first, second, third and final dates.
The payout at maturity will be par unless the stock finishes below its 65% trigger level, in which case investors will be fully exposed to its decline from its initial share price.
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: | Starbucks Corp.
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| Amount: | $1 million
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| Maturity: | Feb. 2, 2023
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| Coupon: | 8.25%, payable quarterly if stock closes at or above interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if stock finishes at or above trigger level; otherwise, exposure to decline of stock from initial share price
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| Call option: | At par on any quarterly interest payment date other than the first, second, third and final dates
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| Initial share price: | $97.87
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| Interest barrier: | $68.509, 70% of initial share price
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| Trigger level: | $63.6155, 65% of initial share price
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| Pricing date: | Jan. 28
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| Settlement date: | Feb. 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132RSE1
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