New York, Nov. 19 – JPMorgan Chase Financial Co. LLC priced $3.16 million of autocallable contingent interest notes due April 1, 2024 linked to the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Walt Disney stock closes at or above the trigger price – 70% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at the annual rate of 8.25%. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on a quarterly review date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Walt Disney shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Walt Disney Co. (NYSE: DIS)
|
| Amount: | $3,158,000
|
| Maturity: | April 1, 2024
|
| Coupon: | 8.25% annual rate, payable quarterly if stock closes at or above trigger price on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Walt Disney shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Walt Disney shares close at or above initial price on a quarterly review date
|
| Initial share price: | $185.92
|
| Trigger price: | $130.144, 70% of initial price
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriters: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
|
| Cusip: | 48132TBZ8
|
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