By William Gullotti
Buffalo, N.Y., March 25 – JPMorgan Chase Financial Co. LLC sold $2.67 million of autocallable contingent interest notes due March 26, 2025 linked to the performance of the stocks of Costco Wholesale Corp., Airbnb, Inc. and General Dynamics Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 20% if each stock closes at or above its interest barrier level, 60% of its initial level, on the corresponding review date. Previously unpaid coupons, if any, will be automatically included whenever a contingent payment is made.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly call date after six months.
The payout at maturity will be par plus the final coupon and all previously unpaid coupons unless any stock finishes below the 60% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Costco Wholesale Corp., Airbnb, Inc., General Dynamics Corp.
|
| Amount: | $2,665,000
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| Maturity: | March 26, 2025
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| Coupon: | 20% annualized, payable quarterly if each underlying stock closes at or above interest barrier level on relevant observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus all unpaid coupons unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of worst performing stock from initial level
|
| Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call date after six months
|
| Initial levels: | $555.53 for Costco, $161.80 for Airbnb, $236.07 for General Dynamics
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| Interest barriers: | $333.318 for Costco, $97.08 for Airbnb, $141.642 for General Dynamics; 60% of initial levels
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| Trigger values: | $333.318 for Costco, $97.08 for Airbnb, $141.642 for General Dynamics; 60% of initial levels
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| Pricing date: | March 21
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| Settlement date: | March 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48133D3J7
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