By William Gullotti
Buffalo, N.Y., Nov. 9 – JPMorgan Chase Financial Co. LLC priced $1.52 million of 0% market-linked securities – autocallable with contingent coupon and contingent downside due Nov. 7, 2025 linked to the stock performance of Alphabet Inc., Amazon.com, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly interest payment at the rate of 14.4% per year if each stock closes at or above the coupon barrier level, 60% of the initial level, on the observation date for that period.
The notes will be automatically called at par plus coupon if each stock closes at or above initial levels on any monthly observation date after six months.
The payout at maturity will be par plus the final coupon if each stock finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above its 50% threshold level, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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| Underlying stocks: | Alphabet Inc., Amazon.com, Inc., Microsoft Corp.
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| Amount: | $1,524,000
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| Maturity: | Nov. 7, 2025
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| Coupon: | 14.4% annual rate, payable monthly if each stock closes at or above coupon barrier level on the relevant observation date
|
| Level: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above coupon barrier; if worst performer finishes below coupon barrier but at or above threshold level, par; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly observation date after six months
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| Initial levels: | $86.58 for Alphabet, $90.98 for Amazon, $221.39 for Microsoft
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| Coupon barriers: | $51.948 for Alphabet, $54.588 for Amazon, $132.834 for Microsoft; 60% of initial levels
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| Threshold levels: | $43.29 for Alphabet, $45.49 for Amazon, $110.695 for Microsoft; 50% of initial levels
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| Pricing date: | Nov. 4
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| Settlement date: | Nov. 9
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| Agents: | J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
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| Fees: | 2.125%
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| Cusip: | 48133PFD0
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