By Wendy Van Sickle
Columbus, Ohio, April 5 – JPMorgan Chase Financial Co. LLC priced $1.12 million of autocallable contingent interest notes due March 31, 2022 linked to the least performing of the common stocks of Teladoc Health, Inc. and UnitedHealth Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 14.6% if each stock closes at or above its trigger value, 70% of its initial share price, on the review date for that quarter.
The notes will be called at par if each stock closes at or above 90% of its initial share price on any review date other than the final review date.
The payout at maturity will be par unless either stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the least-performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Teladoc Health, Inc. and UnitedHealth Group Inc.
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| Amount: | $1,119,000
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| Maturity: | March 31, 2022
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| Coupon: | 14.6% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of least-performing stock from initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above 90% of initial price on any review date other than final review date
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| Initial share prices: | $50.87 for Teladoc and $241.71 for UnitedHealth
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| Trigger values: | $35.609 for Teladoc and $169.197 for UnitedHealth; 70% of initial share prices
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| Pricing date: | March 27
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| Settlement date: | April 1
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.125%
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| Cusip: | 48130WE56
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