By Wendy Van Sickle
Columbus, Ohio, April 20 – JPMorgan Chase Financial Co. LLC priced $2.05 million of contingent income autocallable securities due July 19, 2023 linked to Devon Energy Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The securities will pay a contingent monthly coupon at an annualized rate of 15% if the underlying stock closes at or above the 50% coupon barrier on the related observation date.
If the underlying stock closes at or above its initial price on any of the monthly determination dates other than the final date, the securities will be redeemed at par plus the contingent coupon.
If the underlying stock finishes at or above the 50% downside threshold, the payout at maturity will be par plus the final coupon, if any. Otherwise, the payout will be par times the final share price divided by the initial price.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Devon Energy Corp.
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| Amount: | $2.05 million
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| Maturity: | July 19, 2023
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| Coupon: | 15% annualized, payable monthly if the underlying stock closes at or above the coupon barrier on the relevant observation date
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon, if any, if underlying stock finishes at or above downside threshold; otherwise, par times final price divided by the initial price
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| Call: | At par plus contingent coupon if underlying stock closes at or above initial share price on any monthly determination date other than final date
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| Initial share price: | $62.56
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| Coupon barrier: | $31.28, 50% of initial price
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| Downside threshold: | $31.28; 50% of initial price
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| Pricing date: | April 14
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| Settlement date: | April 20
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 1.5%
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| Cusip: | 48133B310
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