By Kiku Steinfeld
Chicago, March 24 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes Oct. 6, 2022 linked to Bank of America Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.5% if the stock closes at or above its 80% coupon barrier on the review date for that quarter, plus any previously unpaid coupons.
The notes will be called at par if the stock closes at or above its initial level on any quarterly review date starting Jan. 3, 2022.
The payout at maturity will be par unless the stock finishes below its 80% trigger level, in which case investors will be fully exposed to any losses.
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 stock: | Bank of America Corp.
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| Amount: | $1 million
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| Maturity: | Oct. 6, 2022
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| Coupon: | 14.5% annualized, payable quarterly if stock closes at or above its coupon barrier on review date for that quarter plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
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| Call: | At par if stock closes at or above initial level on any quarterly review date starting Jan. 3, 2022
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| Initial level: | $39.11
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| Coupon barrier/trigger level: | $31.288, 80% of initial level
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132WXD6
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