By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – JPMorgan Chase Financial Co. LLC priced $9.74 million of autocallable contingent interest notes due Nov. 7, 2024 linked an equally weighted basket of the shares of Nvidia Corp., Advanced Micro Devices, Inc., Tesla, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.85% if the basket closes at or above its coupon barrier, 70% of its initial level, on the corresponding observation date.
The notes will be called at par plus the coupon if the basket closes at or above its initial level on any monthly observation date other than the first through fifth and final dates.
The payout at maturity will be par plus the final coupon due if the basket finishes at or above its coupon barrier.
If the basket finishes below its coupon barrier but at or above its 60% trigger level, the payout will be par. Otherwise, investors will be fully exposed to the decline from the basket’s initial level.
The notes are guaranteed by JPMorgan Chase & Co.
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 basket: | Nvidia Corp., Advanced Micro Devices, Inc., Tesla, Inc. and Apple Inc.; equal weights
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| Amount: | $9.74 million
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| Maturity: | Nov. 7, 2024
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| Coupon: | 7.85% annual rate, payable monthly if the basket closes at or above coupon barrier on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If basket finishes at or above coupon barrier, par plus final coupon; if the basket declines below the coupon barrier but finishes at or above the trigger level, par; otherwise, 1% loss for each 1% decline from initial level
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| Call: | Automatically at par plus coupon if the basket closes at or above its initial level on any observation date other than the first through fifth and final ones
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| Initial level: | $243.19 for Nvidia, $123.60 for Advanced Micro, $923.32 for Tesla, $172.39 for Apple
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| Coupon barrier: | 70% of initial level
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| Trigger level: | 60% of initial level
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| Pricing date: | Feb. 4
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| Settlement date: | Feb. 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.95%
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| Cusip: | 48133CVL3
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