By William Gullotti
Buffalo, N.Y., Feb. 23 – JPMorgan Chase Financial Co. LLC priced $5 million of autocallable contingent interest notes due Feb. 16, 2034 linked to the MerQube US Large-Cap Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay contingent quarterly interest at an annual rate of 12% if the index closes at or above its 62.5% interest barrier on the related review date. Previously unpaid interest, if any, will be automatically included whenever interest is paid.
The notes will be called at par plus the coupon if the index closes at or above its initial level on any quarterly review date other than the first through eleventh and final dates.
The payout at maturity will be par plus the final coupon unless the index finishes below the 62.5% trigger level, in which case investors will be fully exposed to the decline of the index from its initial level.
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 index: | MerQube US Large-Cap Vol Advantage index
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| Amount: | $5 million
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| Maturity: | Feb. 16, 2034
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| Coupon: | 12% annual rate, payable quarterly if the index closes at or above its interest barrier on the related quarterly review date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the index finishes below trigger level, in which case investors will lose 1% for every 1% decline from the index’s initial level
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| Call: | Automatically at par plus the contingent interest payment if the index closes at or above its initial level on any quarterly review date other than the first through eleventh and final dates
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| Initial level: | 3,143.95
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| Interest barrier: | 1,964.96875; 62.5% of initial level
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| Trigger level: | 1,964.96875; 62.5% of initial level
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 5%
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| Cusip: | 48134WGX9
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