By Taylor Fox
New York, Dec. 30 – JPMorgan Chase Financial Co. LLC priced $1.76 million of autocallable contingent interest notes due Dec. 7, 2023 linked to the common stocks of Micron Technology, Inc., UnitedHealth Group Inc. and United Parcel Service, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 14.5% if all stocks close above the 60% coupon barrier level on the relevant review date.
If all stocks close above their initial levels on any quarterly review date starting after six months, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus any contingent interest payment if the final level of each stock closes at or above its trigger barrier, 60% of its initial price.
Otherwise, investor will be full exposed to the decline of the worst 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
|
| Underlying stocks: | Micron Technology, Inc., UnitedHealth Group Inc. and United Parcel Service, Inc.
|
| Amount: | $1,760,000
|
| Maturity: | Dec. 7, 2023
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| Coupon: | 14.5% annual rate, payable quarterly if each stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if each stock finishes above final barrier; otherwise, full exposure to losses of worst performing stock
|
| Call: | At par plus interest payment if each stock finishes above initial level on any quarterly review date after six months
|
| Initial prices: | $69.11 for Micron, $347.56 for UnitedHealth and $168.83 for United Parcel
|
| Coupon barrier prices: | $41.466 for Micron, $208.536 for UnitedHealth and $101.298 for United Parcel, 60% of initial price
|
| Final barrier prices: | $41.466 for Micron, $208.536 for UnitedHealth and $101.298 for United Parcel, 60% of initial price
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132P4F8
|
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