By Wendy Van Sickle
Columbus, Ohio, June 19 – JPMorgan Chase Financial Co. LLC priced $1.32 million of autocallable contingent interest notes due June 21, 2023 linked to the least performing of the common stocks of Yum! Brands, Inc., Microsoft Corp. and Lowe’s Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at an annual rate of 11% if each stock closes at or above its trigger value, 50% of its initial price, on the review date for that month.
The notes will be automatically called at par if each stock closes at or above its initial price on any quarterly review date after six months other than the final date.
The payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the worst-performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Yum! Brands, Inc., Microsoft Corp. and Lowe’s Cos., Inc.
|
| Amount: | $1,319,000
|
| Maturity: | June 21, 2023
|
| Coupon: | 11%, payable monthly if each stock closes at or above trigger value on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of worst-performing stock
|
| Call: | After six months automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date other than final date
|
| Initial prices: | $131.74 for Lowe’s, $193.57 for Microsoft, $91.86 for Yum
|
| Trigger values: | $65.87 for Lowe’s, $96.785 for Microsoft, $45.93 for Yum; 50% of initial prices
|
| Pricing date: | June 16
|
| Settlement date: | June 19
|
| Underwriters: | J.P. Morgan Securities LLC
|
| Fees: | 3.25%
|
| Cusip: | 48132MEP2
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