By Angela McDaniels
Tacoma, Wash., Jan. 15 – JPMorgan Chase Financial Co. LLC priced $1.4 million of autocallable contingent interest notes due Jan. 17, 2024 linked to lesser performing of the class A common of Alphabet Inc. and the common stock of Apple Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 10.25% if each stock closes at or above its trigger value, 60% of its initial share price, on the review date for that quarter.
The notes will be called at par if each stock closes at or above its initial share price on any review date other than the first, second, third and final review dates.
The payout at maturity will be par unless either stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the lesser-performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Class A common stock of Alphabet Inc. (Symbol: GOOGL) and common stock of Apple Inc. (Symbol: AAPL)
|
| Amount: | $1.4 million
|
| Maturity: | Jan. 17, 2025
|
| Coupon: | 10.25% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of lesser-performing stock from initial share price
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date other than first, second, third and final review dates
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| Initial share prices: | $1,064.47 for Alphabet and $152.29 for Apple
|
| Trigger values: | $638.682 for Alphabet and $91.374 for Apple; 60% of initial share prices
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 15
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.35%
|
| Cusip: | 48130WRQ6
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