By Wendy Van Sickle
Columbus, Ohio, April 21 – JPMorgan Chase Financial Co. LLC priced $1.18 million of autocallable contingent interest notes due April 18, 2024 linked to the least performing of the stocks of Visa Inc., American Express Co. and Mastercard Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.55% if each stock closes at or above its 60% coupon barrier on the review date for that quarter, plus any previously unpaid coupon.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the contingent coupon unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 stocks: | Visa Inc., American Express Co. and Mastercard Inc.
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| Amount: | $1,175,000
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| Maturity: | April 18, 2024
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| Coupon: | 10.55% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter, plus any previously unpaid coupon
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par if each stock closes at or above initial level on any quarterly review date other than the final one
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| Initial levels: | $212.79 for Visa, $181.16 for American Express, $357.82 for Mastercard
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| Trigger levels: | $127.674 for Visa, $108.696 for American Express, $214.692 for Mastercard; 60% of initial levels
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48133FPF6
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