By William Gullotti
Buffalo, N.Y., Dec. 8 – JPMorgan Chase Financial Co. LLC priced $1 million of 9% yield notes due Nov. 22, 2021 linked to the common stock of MP Materials Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The payout at maturity will be par unless MP Materials shares finish below the trigger value, 64.76998% of the initial value, in which case investors will be fully exposed to the stock’s decline from its initial value.
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: | Yield notes
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| Underlying stock: | MP Materials Corp.
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| Amount: | $1 million
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| Maturity: | Nov. 22, 2021
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| Coupon: | 9% annualized, payable monthly; equivalent to a rate of 2.25% over the term of the notes
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger value, in which case full exposure to stock’s decline from initial value
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| Initial value: | $33.04
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| Trigger value: | $21.40; 64.76998% of the initial value
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| Pricing date: | Aug. 17
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| Settlement date: | Aug. 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.3%
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| Cusip: | 48132WFA2
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