By Sarah Lizee
Olympia, Wash., Dec. 9 – JPMorgan Chase Financial Co. LLC priced $1.2 million of autocallable contingent interest notes due Nov. 30, 2022 linked to the least performing of the common stocks of Amgen Inc. and Pfizer Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 9.35% per year if each stock closes at or above its interest barrier, 75% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly review date other than the first and final dates.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its buffer level, 75% of its initial level, in which case investors will lose 1.33333% for every 1% that the least-performing stock declines beyond 25%.
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 stocks: | Amgen Inc. and Pfizer Inc.
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| Amount: | $1.2 million
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| Maturity: | Nov. 30, 2022
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| Coupon: | 9.35% per year, payable quarterly if each stock closes at or above interest barrier value on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above buffer value; otherwise, 1.33333% for every 1% that the least-performing stock declines beyond 25%
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any review date other than the first and final dates
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| Initial share prices: | $234.54 for Amgen, $38.68 for Pfizer
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| Coupon barriers: | $175.905 for Amgen, $29.01 for Pfizer; 75% of initial share prices
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| Buffer levels: | $175.905 for Amgen, $29.01 for Pfizer; 75% of initial share prices
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| Pricing date: | Nov. 25
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| Settlement date: | Nov. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48132FV45
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