By Kiku Steinfeld
Chicago, Dec. 16 – JPMorgan Chase Financial Co. LLC priced $1.1 million of autocallable contingent interest notes due Aug. 23, 2024 linked to the shares of Zillow Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.4% if the stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above 90% of its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless the stock finishes below 60% trigger level, in which case investors will lose 1% for every 1% decline.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Zillow Group, Inc.
|
| Amount: | $1.1 million
|
| Maturity: | Aug. 23, 2024
|
| Coupon: | 11.4% annualized, payable quarterly if stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will lose 1% for every 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above 90% of its initial level on any review date other than first and final dates
|
| Initial level: | $96.03
|
| Coupon barrier level: | $57.618, 60% of initial level
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| Trigger level: | $57.618, 60% of initial level
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| Pricing date: | Aug. 25
|
| Settlement date: | Aug. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48132WGC7
|
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