By Wendy Van Sickle
Columbus, Ohio, May 6 – JPMorgan Chase Financial Co. LLC priced $650,000 of autocallable contingent interest notes due July 26, 2022 linked to Boeing Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if the stock closes at or above its 75% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly review date other than the first and final dates.
The payout at maturity will be par unless the stock finishes below its 75% buffer level, in which case investors will lose 1.3333% for each 1% decline beyond 25%.
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: | Boeing Co.
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Amount: | $650,000
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Maturity: | July 26, 2022
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Coupon: | 7% annualized, payable quarterly if stock closes at or above its coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its buffer level, in which case 1.3333% loss for each 1% decline beyond 25%
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Call: | At par plus contingent coupon if the stock closes at or above the initial share price on any quarterly review date other than first and final dates
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Initial share price: | $235.92
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Coupon barrier/buffer level: | $176.94, 75% of initial share price
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Pricing date: | April 21
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Settlement date: | April 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.69231%
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Cusip: | 48132TWD4
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