By William Gullotti
Buffalo, N.Y., Feb. 24 – JPMorgan Chase Financial Co. LLC priced $820,000 of autocallable contingent interest notes due May 11, 2022 linked to the common stock of Walt Disney Co., 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 9.6% if the stock closes above its 80% coupon barrier level on the relevant review date. Previously unpaid coupons will also be paid.
The notes will automatically be called at par plus the coupon if the stock closes at or above its initial level on any quarterly review date other than the final.
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, 80% 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: | Walt Disney Co.
|
| Amount: | $820,000
|
| Maturity: | May 11, 2022
|
| Coupon: | 9.6% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period other than the final; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due if stock finishes above trigger price; otherwise, full exposure to losses of stock
|
| Call: | At par plus coupon if stock finishes at or above its initial level on any quarterly review date
|
| Initial price: | $183.02
|
| Coupon barrier level: | $146.416; 80% of initial price
|
| Trigger level: | $146.416; 80% of initial price
|
| Pricing date: | April 23, 2021
|
| Settlement date: | April 28, 2021
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132TZE9
|
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