By Kiku Steinfeld
Chicago, Feb. 16 - JPMorgan Chase Financial Co. LLC priced $1 million of callable contingent interest notes due Feb. 7, 2023 linked to Las Vegas Sands Corp. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.5% if the stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes may be called at par on any of the review dates other than the final review date.
If the notes have not been called and the final share price is greater than or equal to the 60% trigger level, the payout at maturity will be par. 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying stock: | Las Vegas Sands Corp. (NYSE: LVS)
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| Amount: | $1 million
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| Maturity: | Feb. 7, 2023
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| Coupon: | 14.5% per year, payable quarterly, if stock closes at or above its coupon barrier on the review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless shares finish below trigger price, in which case investors share in losses
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| Call option: | At par plus contingent coupon any quarterly review date other than the final review date
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| Initial share price: | $52.16
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| Trigger price: | $31.296, 60% of initial share price
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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: | 1%
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| Cusip: | 48132RUP3
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