By William Gullotti
Buffalo, N.Y., March 7 – JPMorgan Chase Financial Co. LLC priced $1.87 million of 10.1% autocallable yield notes due March 5, 2025 linked to the stock performance of Hess Corp., Target Corp. and D.R. Horton, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be payable monthly.
The notes will be called at par plus coupon if each stock closes at or above its initial level on any monthly review date after three months.
The payout at maturity will be par unless any stock finishes below its trigger level, 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing stock from its initial level.
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 yield notes
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| Underlying stocks: | Hess Corp., Target Corp., D.R. Horton, Inc.
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| Amount: | $1.87 million
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| Maturity: | March 5, 2025
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| Coupon: | 10.1%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger level, in which case full exposure to decline of worst performing stock from its initial level
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| Call: | At par plus coupon if each stock closes at or above the initial level on any monthly review date after three months
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| Initial levels: | $101.06 for Hess, $199.77 for Target, $85.40 for Horton
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| Trigger levels: | $60.636 for Hess, $119.862 for Target, $51.24 for Horton; 60% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48133DEH9
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