By Wendy Van Sickle
Columbus, Ohio, April 13 – JPMorgan Chase Financial Co. LLC priced $1.49 million of autocallable contingent interest notes due April 1, 2024 linked to the least performing of the common stocks of Bank of America Corp., Ulta Beauty, Inc. and General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.5% if each stock closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call review date after six months.
The payout at maturity will be par unless each stock finishes below its initial share price and any stock finishes below its 60% trigger level, in which case investors will be fully exposed to the 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Bank of America Corp., Ulta Beauty, Inc. and General Motors Co.
|
| Amount: | $1,487,000
|
| Maturity: | April 1, 2024
|
| Coupon: | 11.5% annualized, payable monthly if each stock closes at or above 60% coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless each stock finishes below initial share price and any stock finishes below 60% trigger level, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly call review date after six months
|
| Initial levels: | $56.52 for General Motors, $303.00 for Ulta Beauty and $38.68 for BofA
|
| Trigger levels: | $33.912 for General Motors, $181.80 for Ulta Beauty and $23.208 for BofA; 60% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.5%
|
| Cusip: | 48132TAH9
|
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