New York, June 26 – JPMorgan Chase Financial Co. LLC priced $3.1 million of callable contingent interest notes due Nov. 24 linked to the common stock of Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a contingent coupon of 5.83333% over the term of the notes, payable quarterly, if the stock closes at or above its 70% downside threshold on the relevant observation date. The first coupon, if payable, will pay at a rate of $35 per $1,000 principal amount. The final, if payable, will be $23.3333 per note.
The securities may be called at par on any determination date.
If the stock finishes at or above its 70% downside threshold, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the stock declines from 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: | Callable contingent interest notes
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| Underlying stock: | Valero Energy Corp.
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| Amount: | $3.1 million
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| Maturity: | Nov. 24, 2023
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| Coupon: | 5.83333% over the term of the notes, payable quarterly, if the stock closes at or above its 70% downside threshold on the relevant observation date, first coupon will pay $35 per note with the final coupon worth $23.3333
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that stock declines from initial level
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| Call option: | At par on any determination date
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| Initial level: | $114.21
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| Downside threshold: | $79.947, 70% of initial level
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| Pricing date: | June 16
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| Settlement date: | June 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133XTV8
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