By Kiku Steinfeld
Chicago, Feb. 16 – JPMorgan Chase Financial Co. LLC priced $4.42 million of autocallable contingent interest notes due Feb. 7, 2024 linked to the least performing of the common stocks of Lam Research Corp., Applied Materials, Inc. and Analog Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15% if each stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call review date after six months.
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 stock: | Lam Research Corp., Applied Materials, Inc. and Analog Devices, Inc.
|
| Amount: | $4,420,000
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| Maturity: | Feb. 7, 2024
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| Coupon: | 15% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock closes below 60% trigger, 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 level on any quarterly call review date after six months
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| Initial levels: | $516.07 for Lam, $103.59 for Applied Materials and $151.87 for Analog
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| Trigger levels: | $309.642 for Lam, $62.154 for Applied Materials and $91.122 for Analog; 60% of initial levels
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
|
| Cusip: | 48132RWH9
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