By Wendy Van Sickle
Columbus, Ohio, Oct. 29 – JPMorgan Chase Financial Co. LLC priced $995,000 of autocallable contingent interest notes due Oct. 28, 2021 linked to the least performing of the shares of Alphabet Inc., FedEx Corp. and General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.1% if each stock closes at or above its 50% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless any stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 assets: | Alphabet Inc., FedEx Corp. and General Electric Co.
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Amount: | $995,000
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Maturity: | Oct. 28, 2021
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Coupon: | 9.1% annualized, payable quarterly if each stock closes at or above 50% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any stock closes below 50% trigger, in which case 1% loss for each 1% decline of worst performing stock
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Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than first and final dates
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Initial levels: | $1,050.71 for Alphabet, $209.20 for FedEx and $12.17 for GE
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Coupon barriers: | $525.355 for Alphabet, $104.60 for FedEx and $6.085 for GE, 50% of initial levels
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Trigger levels: | $525.355 for Alphabet, $104.60 for FedEx and $6.085 for GE, 50% of initial levels
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Pricing date: | Oct. 24
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Settlement date: | Oct. 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48130UK53
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