By Kiku Steinfeld
Chicago, April 13 – JPMorgan Chase Financial Co. LLC priced $1.21 million of autocallable contingent interest notes due Sept. 28, 2023 linked to lululemon athletica inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon plus any previously unpaid coupons at an annualized rate of 10.3% if the stock closes at or above its coupon barrier level, 80% of the initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly valuation date.
The payout at maturity will be par unless the stock finishes below its 80% trigger level, in which case investors will be fully exposed to the stock’s losses.
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: | lululemon athletica inc.
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| Amount: | $1.21 million
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| Maturity: | Sept. 28, 2023
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| Coupon: | 10.3% per year, payable each quarter that stock closes at or above its coupon barrier on the observation date for that quarter, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below its trigger level, in which case full exposure to stock’s losses
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| Call: | At par plus the contingent coupon if stock closes at or above the initial level on any quarterly valuation date
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| Initial level: | $432.61
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| Coupon barrier: | $346.088, 80% of initial level
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| Trigger level: | $346.088, 80% of initial level
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| Final price: | Average of closing levels on five consecutive days ending Sept. 25, 2023
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| Pricing date: | Sept. 24
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| Settlement date: | Sept. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132WZP7
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