New York, Nov. 21 – JPMorgan Chase Financial Co. LLC priced $2.17 million of autocallable contingent interest notes due Nov. 20, 2025 linked to the stock performance of Transocean Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 28.5%, paid monthly, if the underlying stock closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing price of the underlying stock is greater than or equal to its strike price on any monthly review date starting May 15, 2024.
At maturity, the payout will be par unless the stock finishes below its 60% trigger level, in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Transocean Ltd. (Ticker: RIG)
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| Amount: | $2,165,000
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| Maturity: | Nov. 20, 2025
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| Coupon: | 28.5%, paid monthly, if the underlying stock closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will be fully exposed to the decline in the stock
|
| Call: | Automatically at par if the closing price of the underlying stock is greater than or equal to its strike price on any monthly review date starting May 15, 2024
|
| Initial level: | $6.57
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| Trigger level: | $3.942, 60% of initial level
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| Coupon barrier: | $4.599, 70% of initial level
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| Strike date: | Nov. 15
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
|
| Cusip: | 48134RB64
|
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