By Kiku Steinfeld
Chicago, Oct. 14 – JPMorgan Chase Financial Co. LLC priced $1.15 million of autocallable contingent interest notes due April 4, 2023 linked to the common stocks of Amazon.com, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the shares of each stock close at or above the barrier level, 65% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 9.25%.
The notes will be called at par plus the contingent coupon if the shares of each stock close at or above 95% of their initial share price on any quarterly determination date other than the final determination date.
If the final share price of each stock is greater than or equal to the barrier level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than the initial share price.
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 stocks: | Amazon.com, Inc. and Apple Inc.
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| Amount: | $1,150,000
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| Maturity: | April 4, 2023
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| Coupon: | 9.25% per year, payable quarterly if shares of each stock close at or above barrier level on determination date for that quarter
|
| Price: | Par of $1,000
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| Payout at maturity: | If final share price of each stock is greater than or equal to barrier level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price of least performing stock is less than initial share price
|
| Call: | At par plus contingent coupon if shares of each stock close at or above 95% of initial share price on any determination date other than final determination date
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| Initial share prices: | $3,148.73 for Amazon, $115.81 for Apple
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| Barriers: | $2,046.6745 for Amazon, $75.2765 for Apple; 65% of initial share prices
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48132PHD9
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