By Kiku Steinfeld
Chicago, Jan. 24 – JPMorgan Chase Financial Co. LLC priced $1.33 million of callable contingent interest notes due Jan. 5, 2024 linked to the shares of Blackstone Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.75% if the stock closes at or above its 70% coupon barrier on the corresponding review date.
The notes may be called at par on any of the quarterly review dates other than the first and final.
If the notes have not been called and the final share price is greater than or equal to the 70% trigger level, the payout at maturity will be par plus the final coupon. If the final share price is less than the trigger level, investors will be exposed to the decline of the shares from the 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: | Callable contingent interest notes
|
| Underlying stock: | Blackstone Inc.
|
| Amount: | $1,325,000
|
| Maturity: | Jan. 5, 2024
|
| Coupon: | 11.75% per year, payable quarterly, if stock closes at or above its coupon barrier on the corresponding review date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless shares finish below trigger price, in which case investors will be exposed to the stock’s decline from initial level
|
| Call option: | At par on any quarterly review date other than the first and final
|
| Initial share price: | $128.50
|
| Trigger price: | $89.95; 70% of initial share price
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48133CHD7
|
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