By Kiku Steinfeld
Chicago, Feb. 22 – JPMorgan Chase Financial Co. LLC priced $2.22 million of autocallable contingent interest notes due March 15, 2022 linked to the common stock of CVS Health Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 8% per year if the stock closes at or above the trigger value, 77% of its initial share price, on the review date for that month.
The notes will be automatically called at par if the stock closes at or above its initial share price on any review date other than the first, second, third, fourth, fifth and final dates.
If the notes have not been called, the payout at maturity will be par unless the stock finishes below the trigger value, in which case investors will lose 1% for every 1% that the stock finishes below its 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | CVS Health Corp.
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| Amount: | $2,114,000
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| Maturity: | March 15, 2022
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| Coupon: | 8% per year, payable monthly if stock closes at or above trigger value on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger value, in which case 1% loss for every 1% that stock finishes below initial share price
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on any monthly review date other than other than first, second, third, fourth, fifth and final dates
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| Initial share price: | $73.83
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| Trigger value: | $56.8491 or 77% of initial share price
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132RYC8
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