By Kiku Steinfeld
Chicago, Sept. 14 – JPMorgan Chase Financial Co. LLC priced $3.3 million autocallable contingent interest notes due Oct. 5, 2022 linked to Cabot Oil & Gas Corp., according to an 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12% if Cabot Oil shares close at or above the barrier level, 73% of the initial share price, on the review date for that month.
The notes will be called at par plus the contingent coupon if Cabot Oil shares close at or above the initial share price on any monthly review date other than the first, second, third, fourth, fifth and final review dates.
If the stock finishes at or above the barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the stock’s losses.
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 shares: | Cabot Oil & Gas Corp. (Symbol: COG)
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| Amount: | $3,302,000
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| Maturity: | Oct. 5, 2022
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| Coupon: | 12% annualized for each month that Cabot Oil stock closes at or above barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below the barrier level, in which case exposure to the stock’s losses
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| Call: | At par plus contingent coupon if Cabot Oil shares close at or above initial share price on any monthly review date other than the first, second, third, fourth, fifth and final review dates
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| Initial share price: | $15.89
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| Barrier level: | $11.5997, 73% of initial share price
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132WJB6
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