By Kiku Steinfeld
Chicago, Jan. 21 – JPMorgan Chase Financial Co. LLC priced $600,000 of contingent interest notes with contingent digital payment due Jan. 19, 2023 linked to the class A subordinate voting shares of Shopify Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above its barrier level, 60% of the initial share price, on a quarterly review date, the notes will pay a $25.00 coupon that quarter, which is equivalent to 10% per year.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus 7.8%. If the final share price is less than the initial share price but greater than or equal to the barrier level, the payout will be par. If the final share price is less than the barrier level, investors will be exposed to the decline of the stock from its initial share price.
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: | Contingent interest notes with contingent digital payment
|
| Underlying stock: | Shopify Inc.
|
| Amount: | $600,000
|
| Maturity: | Jan. 19, 2023
|
| Coupon: | 10% per year, payable quarterly if stock closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to initial share price, par plus 7.8%; if final share price is less than initial share price but greater than or equal to barrier level, par; if final share price is less than barrier level, exposure to decline of stock from initial share price
|
| Initial share price: | $1,199.82
|
| Barrier level: | $719.892, 60% of initial share price
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0%
|
| Cusip: | 48132RKD1
|
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