By Taylor Fox
New York, Oct. 26 – JPMorgan Chase Financial Co. LLC priced $1.75 million of autocallable contingent interest notes due Sept. 28, 2023 linked to the common stocks of Netflix, Inc., Deere & Co. and Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent monthly interest payment at a rate of 14.25% if the all stocks close above its coupon barrier, 60% of its initial price, on the relevant review date.
If each stock closes above its initial level on any quarterly review date starting after six months, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus the contingent interest payment if the final level of each stock closes at or above its final barrier, 60% of its initial price.
Otherwise, investor 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Netflix, Inc., Deere & Co. and Home Depot, Inc.
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| Amount : | $1,746,000
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| Maturity: | Sept. 28, 2023
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| Coupon: | 14.25%, payable monthly if all stocks close at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if all stocks finish above final barrier; otherwise full exposure to losses of worst performer
|
| Call: | At par plus interest payment if each stock finishes above initial level on any quarterly review date starting after six months
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| Initial price: | $482.88 for Netflix, $219.25 for Deere and $268.55 for Home Depot
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| Coupon barrier/final barrier price: | $289.728 for Netflix, $131.55 for Deere and $161.13 for Home Depot; 60% of initial price
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
|
| Cusip: | 48132PBX1
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