By Taylor Fox
New York, Nov. 23 – JPMorgan Chase Financial Co. LLC priced $896,000 of callable contingent interest notes due Nov. 22, 2022 linked to the common stock of Amazon.com, Inc., according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 12.45% if the stock closes at or above its trigger level, 70% of its initial level, on the review date for that quarter.
The notes may be called at par in whole but not in part on any quarterly interest payment date after six months.
If the notes have not been called, the payout at maturity will be par unless the stock finishes below its 70% trigger level, in which case investors will lose 1% for every 1% decline of the stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying stock: | Amazon.com, Inc.
|
| Amount: | $896,000
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| Maturity: | Nov. 22, 2022
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| Coupon: | 12.45% annual rate, payable quarterly if stock closes at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below 70% of its initial value, in which case 1% loss for every 1% decline of stock
|
| Call: | At par in whole but not in part on any quarterly interest payment date after six months
|
| Initial level: | $3,135.66
|
| Trigger level: | $2,194.962; 70% of initial level
|
| Pricing date: | Nov. 17
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| Settlement date: | Nov. 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132PZM9
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