By William Gullotti
Buffalo, N.Y., June 26 – JPMorgan Chase Financial Co. LLC priced $2 million of 0% trigger autocallable notes due Dec. 19, 2024 linked to the stock performance of Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above its initial level on any monthly observation date, the notes will be automatically called at par plus an 18% annualized call premium.
If the notes are not called and the stock finishes at or above its 56% downside threshold level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% that the stock’s final level is below its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
J.P. Morgan Securities LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable notes
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| Underlying stock: | Charles Schwab Corp.
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| Amount: | $2 million
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| Maturity: | Dec. 19, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the notes are not called and the stock finishes at or above downside threshold, par; otherwise, full exposure to stock’s decline from initial level
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| Call: | At par plus an 18% annualized premium if the stock closes at or above its initial level on any monthly observation date
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| Initial level: | $55.51
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| Downside threshold: | $31.09; 56% of initial level
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| Strike date: | June 15
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| Pricing date: | June 16
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| Settlement date: | June 21
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| Underwriter: | J.P. Morgan Securities LLC
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| Selling agent: | UBS Financial Services Inc.
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| Fees: | 1.25%
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| Cusip: | 48130Y651
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