By Sarah Lizee
Olympia, Wash., Nov. 29 – JPMorgan Chase Financial Co. LLC priced $2.57 million of autocallable contingent interest notes due Dec. 1, 2022 linked to the least performing of the common stocks of Bristol-Myers Squibb Co., General Mills, Inc. and Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 11.4% if each stock closes at or above its 60% coupon barrier on the related quarterly review date.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial value on any quarterly review date other than the first and final dates.
The payout at maturity will be par unless any stock finishes below its 60% trigger value, in which case investors will be fully exposed to any losses 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: | Bristol-Myers Squibb Co., General Mills, Inc. and Walgreens Boots Alliance, Inc.
|
| Amount: | $2,566,000
|
| Maturity: | Dec. 1, 2022
|
| Coupon: | 11.4% annualized, payable each quarter that each stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock closes below trigger value, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial value on any quarterly review date other than first and final dates
|
| Initial values: | $51.15 for Bristol-Myers, $42.45 for General Mills and $83.52 for Walgreens Boots
|
| Coupon barriers: | $30.69 for Bristol-Myers, $25.47 for General Mills and $50.112 for Walgreens Boots; 60% of initial values
|
| Trigger values: | $30.69 for Bristol-Myers, $25.47 for General Mills and $50.112 for Walgreens Boots; 60% of initial values
|
| Pricing date: | Nov. 27
|
| Settlement date: | Dec. 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 48130WDB4
|
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