By Wendy Van Sickle
Columbus, Ohio, Jan. 3 – JPMorgan Chase Financial Co. LLC priced $4.37 million of contingent income autocallable securities due Dec. 27, 2024 linked to the common stocks of Capital One Financial Corp. and Discover Financial Services, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The securities will pay a contingent quarterly coupon at an annualized rate of 11.2% if the least-performing stock closes at or above the 70% downside threshold on the related observation date.
If the least-performing stock closes at or above its initial price on any of the quarterly determination dates, the securities will be redeemed at par plus the contingent coupon.
If the least-performing stock finishes at or above the 70% downside threshold, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the loss of the least-performing stock.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Capital One Financial Corp., Discover Financial Services
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| Amount: | $4,374,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 11.2% annualized, payable quarterly if the least-performing stock closes at or above downside threshold on the relevant observation date
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if least-performing stock finishes at or above downside threshold; otherwise, full exposure to loss of least performing stock
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| Call: | At par plus contingent coupon if least-performing stock closes at or above initial share price on any quarterly determination date
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| Initial share price: | $145.10 for Capital One, $115.34 for Discover
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| Downside threshold: | $101.57 for Capital One, $80.738 for Discover; 70% of initial price
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 29
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 2.5%
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| Cusip: | 48133A643
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