By Taylor Fox
New York, Feb. 16 – JPMorgan Chase Financial Co. LLC priced $3.07 million of autocallable contingent interest notes due April 27, 2022 linked to the common stock of Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a monthly contingent interest payment at an annual rate of 11.25% if the stock closes above its 57% coupon barrier level on the relevant review date.
If the stock closes above its initial level on any monthly review date after six months 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 final barrier, 57% of its initial price.
Otherwise, investor will be full 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
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| Underlying stock: | Freeport-McMoRan Inc.
|
| Amount: | $3,071,000
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| Maturity: | April 27, 2022
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| Coupon: | 11.25% annual rate, payable monthly if stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if stock finishes above final barrier; otherwise, full exposure to losses of stock
|
| Call: | At par plus interest payment if stock finishes above initial level on monthly review date after six months
|
| Initial price: | $30.49
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| Coupon barrier level: | $17.3793, 57% of initial price
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| Final barrier level: | $17.3793, 57% of initial price
|
| Pricing date: | Jan. 22
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| Settlement date: | Jan. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132RJN1
|
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