By William Gullotti
Buffalo, N.Y., April 22 – JPMorgan Chase Financial Co. LLC sold $2.64 million of autocallable contingent interest notes due Oct. 21, 2025 linked to the performance of the stocks of Tesla, Inc., Palo Alto Networks, Inc. and Palantir Technologies Inc., 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 monthly coupon at an annual rate of 23.5% if each stock closes at or above its interest barrier level, 75% of its initial level, on the corresponding review date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any monthly valuation date after six months.
If the notes are not called and each stock finishes at or above its 75% trigger value, the payout at maturity will be par plus all unpaid coupons.
Otherwise, investors will lose 1% for each 1% decline of the worst performing stock below its trigger value.
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: | Tesla, Inc., Palo Alto Networks, Inc., Palantir Technologies Inc.
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| Amount: | $2.64 million
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| Maturity: | Oct. 21, 2025
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| Coupon: | 23.5% annualized, payable monthly if each underlying stock closes at or above interest barrier level on relevant observation date; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger value, par plus all unpaid coupons; otherwise, lose 1% for each 1% decline of worst performer beyond 25%
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| Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly valuation date after six months
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| Initial levels: | $157.11 for Tesla, $275.02 for Palo Alto, $21.88 for Palantir
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| Interest barriers: | $117.8325 for Tesla, $206.265 for Palo Alto, $16.41 for Palantir; 75% of initial levels
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| Trigger values: | $117.8325 for Tesla, $206.265 for Palo Alto, $16.41 for Palantir; 75% of initial levels
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| Pricing date: | April 16
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| Settlement date: | April 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48134XWS0
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