By Wendy Van Sickle
Columbus, Ohio, Feb. 22 – JPMorgan Chase Financial Co. LLC priced $1.17 million of autocallable contingent interest notes due March 2, 2022 linked to the common stock of Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10% per year if the stock closes at or above the trigger value, 61.4% of its initial share price, on the review date for that quarter, plus any previously unpaid coupon.
The notes will be automatically called at par if the stock closes at or above its initial share price on any review date other than the final date.
If the notes have not been called, the payout at maturity will be par unless the stock finishes below the trigger value, in which case investors will lose 1% for every 1% that the stock falls from its initial level.
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: | Qualcomm Inc.
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| Amount: | $1.17 million
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| Maturity: | March 2, 2022
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| Coupon: | 10% per year, payable quarterly if stock closes at or above trigger value on review date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below 61.4% trigger, in which case 1% loss for every 1% that stock falls from initial level
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than other than final date
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| Initial share price: | $147.98
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| Trigger value: | $90.85972, 61.4% of initial share price
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132R4V9
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