By William Gullotti
Buffalo, N.Y., Sept. 23 – JPMorgan Chase Financial Co. LLC priced $673,000 of 0% digital barrier notes due July 7, 2023 linked to the stock performance of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above initial price, the payout at maturity will be par plus 70.75%.
If the stock falls below its initial level but finishes at or above its 75% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the stock from its initial price.
The notes are guaranteed by JPMorgan Chase & Co.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Digital barrier notes
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| Underlying stock: | Tesla, Inc.
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| Amount: | $673,000
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| Maturity: | July 7, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the stock finishes at or above initial price, par plus 70.75%; if the stock declines but finishes at or above its 75% barrier level, par; otherwise, full exposure to stock decline from initial price
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| Initial price: | $678.90
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| Barrier level: | $509.175; 75% of initial level
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| Pricing date: | July 2
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| Settlement date: | July 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48132UYQ0
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