By Kiku Steinfeld
Chicago, Oct. 12 – JPMorgan Chase Financial Co. LLC priced $449,000 of callable contingent interest notes due Sept. 28, 2023 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at the rate of 12.85% per year if Alibaba shares close at or above the trigger level, 60% of the initial share price, on the review date for that quarter.
The notes may be called at par plus any contingent coupon on any quarterly review date other than the first and final review dates.
The payout at maturity will be par unless the final share price is less than the trigger level, in which case investors will be fully exposed to the decline in the share price.
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: | Callable contingent interest notes
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| Underlying stock: | Alibaba Group Holding Ltd.
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| Amount: | $449,000
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| Maturity: | Sept. 28, 2023
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| Coupon: | 12.85%, payable quarterly if stock closes at or above trigger price on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par if shares finish at or above trigger price; otherwise, par plus stock return
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| Call option: | Par plus any contingent coupon on any quarterly review date other than first and final review dates
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| Initial share price: | $145.08
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| Trigger price: | $87.048, 60% of initial price
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| Pricing date: | Sept. 24
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| Settlement date: | Sept. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48132W2E8
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