By Taylor Fox
New York, Dec. 30 – JPMorgan Chase Financial Co. LLC priced $5.48 million of autocallable contingent interest notes due March 21, 2022 linked to the common stock of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a monthly contingent interest payment at an annual rate of 11% if the stock closes above its 60% coupon barrier price on the related review date.
If the stock closes above its initial price on any monthly review date after six months, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par if the stock finishes above its 60% trigger level.
Otherwise, investors will be fully exposed to the decline of the stock.
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: | Boeing Co.
|
| Amount: | $5,484,000
|
| Maturity: | March 21, 2022
|
| Coupon: | 11% annual rate, payable monthly, if stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if stock finishes at or above trigger level; otherwise, full exposure to losses of stock
|
| Call: | At par plus interest payment if stock finishes above initial price on monthly review starting after six months
|
| Initial price: | $225.87
|
| Coupon barrier/trigger price: | $135.522, 60% of initial price
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132PM50
|
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