By Marisa Wong
Los Angeles, Sept. 14 – JPMorgan Chase Financial Co. LLC priced $2.84 million of autocallable contingent interest notes due Dec. 2, 2021 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If Apple stock closes at or above the coupon barrier, 65% of the initial price, on a monthly review date, the issuer will pay a contingent coupon for that month at a rate of 9.7% per year. Otherwise, no coupon will be paid for that month.
If the shares close at or above the initial price on any monthly review date, other than the first five review dates and the final review date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Apple shares finish at or above the 65% trigger level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $2,838,000
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| Maturity: | Dec. 2, 2021
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| Coupon: | 9.7% per year, payable each month that stock closes at or above coupon barrier on review date for that month
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if Apple shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Apple shares close at or above initial price on any monthly review date other than the first five review dates and the final review date
|
| Initial price: | $500.04
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| Coupon barrier: | $325.026, 65% of initial price
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| Trigger price: | $325.026, 65% of initial price
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| Pricing date: | Aug. 27
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| Settlement date: | Sept. 1
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132MD40
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