By William Gullotti
Buffalo, N.Y., Oct. 16 – JPMorgan Chase Financial Co. LLC sold $2.35 million of autocallable contingent interest notes due Oct. 9, 2026 linked to the performance of the stocks of United Parcel Service, Inc., NIKE, Inc. and Abbott Laboratories, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 11.35% if each stock closes at or above its interest barrier level, 65% of its initial level, on the corresponding review date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any monthly call date after one year.
If the notes are not called and each stock finishes at or above its 65% trigger value, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% decline of the worst performing stock beyond 35%.
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 stocks: | United Parcel Service, Inc., NIKE, Inc., Abbott Laboratories
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| Amount: | $2.35 million
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| Maturity: | Oct. 9, 2026
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| Coupon: | 11.35% annualized, payable monthly if each underlying stock closes at or above interest barrier level on relevant observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger value, par plus final coupon; otherwise, lose 1% for each 1% decline of the worst performer below trigger value
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| Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly call date after one year
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| Initial levels: | $154.27 for UPS, $97.11 for NIKE, $96.88 for Abbott
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| Interest barriers: | $100.2755 for UPS, $63.1215 for NIKE, $62.972 for Abbott; 65% of initial levels
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| Trigger values: | $100.2755 for UPS, $63.1215 for NIKE, $62.972 for Abbott; 65% of initial levels
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.2%
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| Cusip: | 48134BFB4
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