By Kiku Steinfeld
Chicago, March 14 – JPMorgan Chase Financial Co. LLC priced $1.2 million of autocallable contingent interest notes due Sept. 19, 2024 linked to the common stock of Stitch Fix, Inc., 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 12% if the stock closes at or above its 60% coupon barrier level on the relevant review date.
If the stock closes at or above 80% of its initial level on any monthly review date other than the first, second and final dates, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par if the stock finishes at or above its trigger price, 50% of its initial price.
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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Stitch Fix, Inc.
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| Amount: | $1.2 million
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| Maturity: | Sept. 19, 2024
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| Coupon: | 12% annual rate, payable monthly if stock closes at or above coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par if stock finishes at or above trigger price; otherwise, full exposure to losses of stock
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| Call: | At par plus interest payment if stock finishes at or above 80% of initial level on monthly review date other than the first, second and final dates
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| Initial price: | $34.21
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| Coupon barrier level: | $20.526; 60% of initial price
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| Trigger level: | $17.105; 50% of initial price
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48132WSW0
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