By William Gullotti
Buffalo, N.Y., April 24 – JPMorgan Chase Financial Co. LLC priced $1.5 million of 0% market-linked securities – autocallable with contingent coupon and contingent downside due April 18, 2024 linked to the stock performance of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly interest payment at the rate of 14.35% per year if the stock closes at or above the coupon barrier level, 60% of the initial level, on the observation date for that period.
The notes will be automatically called at par plus coupon if the stock closes at or above initial levels on any monthly observation date after six months.
The payout at maturity will be par plus the final coupon unless the stock falls by more than 60%, in which case investors lose 1% for every 1% decline from its initial level.
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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| Underlying stock: | Netflix, Inc.
|
| Amount: | $1,499,000
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| Maturity: | April 18, 2024
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| Coupon: | 14.35% annual rate, payable monthly if the stock closes at or above coupon barrier level on the relevant observation date
|
| Level: | Par
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| Payout at maturity: | Par plus final coupon unless the stock falls by more than 60%, in which case full exposure to decline from initial level
|
| Call: | Automatically at par plus coupon if the stock closes at or above initial level on any monthly observation date after six months
|
| Initial level: | $338.63
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| Coupon barrier: | $203.178; 60% of initial level
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| Threshold level: | $203.178; 60% of initial level
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| Pricing date: | April 14
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| Settlement date: | April 19
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| Agents: | J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
|
| Fees: | 1.325%
|
| Cusip: | 48133VKM1
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