By Sarah Lizee
Olympia, Wash., June 25 – JPMorgan Chase Financial Co. LLC priced $1.1 million of autocallable contingent interest notes due Sept. 22, 2020 linked to Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 24.6% if the stock closes at or above its 70% coupon barrier on the review date for that month, in which case a coupon will also be paid for any previously unpaid month.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless the stock finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline.
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: | Citigroup Inc.
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Amount: | $1.1 million
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Maturity: | Sept. 22, 2020
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Coupon: | 24.6% annualized, payable monthly if stock closes at or above its coupon barrier on review date for that month, plus any previously unpaid month
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will lose 1% for each 1% decline
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Call: | At par plus contingent coupon if stock closes at or above initial level on any review date other than final date
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Initial level: | $53.00
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Coupon barrier/trigger level: | $37.10, 70% of initial level
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Pricing date: | June 18
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Settlement date: | June 23
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.25%
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Cusip: | 48132MLY5
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