By Kiku Steinfeld
Chicago, Oct. 10 – JPMorgan Chase Financial Co. LLC priced $620,000 of autocallable yield notes due May 18, 2023 linked to the stocks of Apple Inc., Kroger Co. and TotalEnergies SE, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75% per year, paid quarterly.
The securities will be called automatically at par on any of three quarterly review dates after six months if each stock closes at or above its corresponding call level. The call level will be 95% of each stock’s initial level on the first quarterly call date, stepping down by 5% each date to a call level of 85%.
If the worst performing stock gains or ends above its 65% downside threshold, the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing stock declines if it finishes below its downside threshold level.
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: | Autocallable yield notes
|
| Underlying stocks: | Apple Inc., Kroger Co. and TotalEnergies SE
|
| Amount: | $620,000
|
| Maturity: | May 18, 2023
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| Coupon: | 9.75%, paid quarterly
|
| Price: | Par
|
| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing stock declines if it finishes below its downside threshold level
|
| Call: | Automatically at par on any of three quarterly review dates after six months if each stock closes at or above its corresponding call level, staring at 95% for the first date and stepping down by 5% each quarter to 85%
|
| Initial levels: | $172.79 for Apple, $46.41 for Kroger, €51.42 for TotalEnergies
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| Downside thresholds: | $112.3135 for Apple, $30.1665 for Kroger, €33.423 for TotalEnergies, 65% of initial levels
|
| Pricing date: | Feb. 16
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| Settlement date: | Feb. 24
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48133DDX5
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