By Wendy Van Sickle
Columbus, Ohio, Feb. 28 – JPMorgan Chase Financial Co. LLC priced $1.34 million of autocallable contingent interest notes due March 2, 2022 linked to the least performing of the common stocks of Oracle Corp., Microsoft Corp. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes pay a contingent coupon at an annual rate of 15% if each stock closes at or above its trigger value, 65% of its initial share price, on the review date for that month.
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 through fifth and final review dates.
The payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the least-performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Oracle Corp., Microsoft Corp. and Intel Corp.
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| Amount: | $1,335,000
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| Maturity: | March 2, 2022
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| Coupon: | 8.5% per year, payable monthly if each stock closes at or above trigger value on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of least-performing stock from initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any monthly review date other than first through fifth and final review dates
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| Initial share prices: | $52.56 for Oracle, $111.59 for Microsoft and $53.10 for Intel
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| Trigger values: | $31.536 for Oracle, $66.954 for Microsoft and $31.86 for Intel; 60% of initial share prices
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.38%
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| Cusip: | 48130W2T7
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