By Kiku Steinfeld
Chicago, Nov. 15 – JPMorgan Chase Financial Co. LLC priced $250,000 of contingent income autocallable securities due Aug. 4, 2022 linked to the common stock of Hess Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the shares close at or above the downside threshold level, 70% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annual rate of 12%.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date, other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Hess Corp.
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| Amount: | $250,000
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| Maturity: | Aug. 4, 2022
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| Coupon: | 12% annual rate, payable quarterly if shares close at or above downside threshold level on determination date for that period
|
| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
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| Initial share price: | $76.44
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| Downside threshold: | $53.508, 70% of initial share price
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.25%
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| Cusip: | 48132UM42
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