New York, April 3 – JPMorgan Chase Financial Co. LLC priced $8.55 million of autocallable contingent interest notes due April 10, 2024 linked to the common stock of Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a contingent coupon of 16.75%, paid quarterly, if the stock closes at or above its trigger level on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly review date.
If the notes have not been called, the payout at maturity will be par unless the stock closes below its trigger value during the life of the notes and the stock finishes below its initial level, in which case investors will lose 1% for every 1% that it declines from initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Morgan Stanley
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| Amount: | $8,545,000
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| Maturity: | April 10, 2024
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| Coupon: | 16.75% per year, paid quarterly if the stock closes at or above its trigger level on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its trigger value during the life of the notes and the stock finishes below its initial level, in which case investors will lose 1% for every 1% that it declines from initial level
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| Call: | Automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly review date
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| Initial level: | $83.95
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| Trigger level: | $54.5675, 65% of initial level
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133VGC8
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