By William Gullotti
Buffalo, N.Y., Feb. 24 – JPMorgan Chase Financial Co. LLC priced $1.09 million of autocallable contingent interest notes due April 25, 2024 linked to the common stock of Baidu, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 11% if the stock closes above its 65% coupon barrier level on the relevant review date.
The notes will automatically be called at par plus the coupon if the stock closes at 95% of its initial level on any quarterly review date after six months.
The payout at maturity will be par plus any contingent interest payment due if the final level of the stock closes at or above its trigger price, 65% of its initial price.
Otherwise, investors will be fully exposed to the decline of the stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Baidu, Inc.
|
| Amount: | $1,090,000
|
| Maturity: | April 25, 2024
|
| Coupon: | 11% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if stock finishes above trigger price; otherwise, full exposure to losses of stock
|
| Call: | At par plus coupon if stock finishes above 95% of initial level on any quarterly review date after six months
|
| Initial price: | $214.56
|
| Coupon barrier level: | $139.464; 65% of initial price
|
| Trigger level: | $139.464; 65% of initial price
|
| Pricing date: | April 22, 2021
|
| Settlement date: | April 27, 2021
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48132TVM5
|
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