By Kiku Steinfeld
Chicago, March 25 – JPMorgan Chase Financial Co. LLC priced $297,000 of autocallable contingent interest notes due Sept. 20, 2024 linked to the least performing of the stocks of Marriott International, Inc., Hilton Worldwide Holdings Inc. and Hyatt Hotels Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.95% if each stock closes at or above its 60% coupon barrier on the review date for that quarter, plus any previously unpaid coupon.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | Autocallable contingent interest notes
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| Underlying stocks: | Marriott International, Inc., Hilton Worldwide Holdings Inc. and Hyatt Hotels Corp.
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| Amount: | $297,000
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| Maturity: | Sept. 20, 2024
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| Coupon: | 9.95% annualized, payable quarterly if each stock closes at or above its coupon barrier on review date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its trigger level, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par if each stock closes at or above its initial level on any review date other than final date
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| Initial levels: | $143.90 for Marriott, $131.21 for Hilton, $75.38 for Hyatt
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| Trigger levels: | $86.34 for Marriott, $78.726 for Hilton, $45.228 for Hyatt; 60% of initial levels
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132WVZ9
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