By Taylor Fox
New York, Dec. 17 – JPMorgan Chase Financial Co. LLC priced $296,000 of autocallable contingent interest notes due Dec. 19, 2023 linked to the lesser performing of the common stocks of General Dynamics Corp. and General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 9.7% if each stock closes above its 60% trigger level on the relevant review date after three months.
If the stocks close above their initial levels on any quarterly review date after three months, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus any contingent interest payment due if the final levels of both stocks are above the final barriers, 60% of the initial price.
Otherwise, investor will be full exposed to the decline of the lesser 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: | General Dynamics Corp. and General Motors Co.
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| Amount: | $296,000
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| Maturity: | Dec. 19, 2023
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| Coupon: | 9.7% annual rate, payable quarterly if each stock closes at or above coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus interest payment if both stocks finish above final barrier; otherwise full exposure to losses of lesser performing stock
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| Call: | At par plus interest payment if stocks finish above initial level on quarterly review date starting after six months
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| Initial prices: | $153.34 for General Dynamics and $41.62 for General Motors
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| Trigger levels: | $92.004 for General Dynamics and $24.972 for General Motors, 60% of initial price
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| Final barrier prices: | $92.004 for General Dynamics and $24.972 for General Motors, 60% of initial price Pricing date: | Dec. 14
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| Settlement date: | Dec. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132PV76
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