By William Gullotti
Buffalo, N.Y., March 29 – JPMorgan Chase Financial Co. LLC priced $2.07 million of callable contingent interest notes due Sept. 8, 2023 linked to the shares of General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 5.9166% over the term of the notes if the stock closes at or above its 65% coupon barrier on the relevant review date. The first coupon, if payable, will pay at a rate of $35.50 per $1,000 principal amount. The final, if payable, will be $23.6667 per note.
The notes may be called at par plus any coupon due on the first review date.
If the notes have not been called and the final share price is greater than or equal to the 65% trigger level, the payout at maturity will be par plus the final coupon. If the final share price is less than the trigger level, investors will be exposed to the decline of the shares from the initial share price.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying stock: | General Motors Co.
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| Amount: | $2,065,000
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| Maturity: | Sept. 8, 2023
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| Coupon: | 5.91667% for the term, payable quarterly if stock closes at or above its coupon barrier on the corresponding review date; first coupon will pay at a rate of $35.50 per note, the final at $23.6667 per note
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless shares finish below trigger price, in which case investors will be exposed to the stock’s decline from initial level
|
| Call option: | At par plus any coupon due on first review date
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| Initial share price: | $34.05
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| Coupon barrier: | $22.1325; 65% of initial share price
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| Trigger price: | $22.1325; 65% of initial share price
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| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
|
| Cusip: | 48133VGT1
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