By William Gullotti
Buffalo, N.Y., Sept. 20 – JPMorgan Chase Financial Co. LLC priced $3 million of autocallable contingent interest notes due Sept. 30, 2022 linked to the common stock of Bank of America Corp., 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 12.76% if the stock closes above its 80% coupon barrier level on the relevant review date. Unpaid contingent interest payments, if any, will be paid at any time a payment is made.
If the stock closes above its initial level on any quarterly review date other than the final, the notes will be automatically called at par plus the contingent interest payment.
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.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Bank of America Corp.
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| Amount: | $3,000,000
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| Maturity: | Sept. 30, 2022
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| Coupon: | 12.76% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period; coupon payment events will include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if stock finishes above trigger price; otherwise, full exposure to losses of stock
|
| Call: | At par plus interest payment if stock finishes above initial level on quarterly review date other than the final
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| Initial price: | $39.84
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| Coupon barrier level: | $31.872; 80% of initial price
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| Trigger level: | $31.872; 80% of initial price
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| Strike date: | Sept. 14
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 20
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132WUD9
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