By Wendy Van Sickle
Columbus, Ohio, May 11 – JPMorgan Chase Financial Co. LLC priced $3.78 million of trigger autocallable contingent yield notes due May 9, 2025 linked to the Dow Jones industrial average and Russell 2000 Value index, 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 the rate of 10.25% per year if each index closes at or above the coupon barrier, 70% of the initial level, on the relevant observation date.
The notes will be automatically called at par of $10 plus the coupon if each index closes at or above initial level on any quarterly observation date after six months.
If the notes are not called and the final level of each index is greater than or equal to the coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but at or above its downside threshold level, 60% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 Value index
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| Amount: | $3,775,010
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| Maturity: | May 9, 2025
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| Contingent coupon: | 10.25% annual rate, payable quarterly if each index closes at or above coupon barrier level on related quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus final coupon if each index finishes at or above coupon barrier; if worst performer finishes below coupon barrier but at or above threshold level, par; otherwise, 1% loss for each 1% decline of worst performer from initial price
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly observation date after six months
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| Initial prices: | 32,899.37 for Dow, 2,227.052 for Russell
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| Coupon barriers: | 23,029.56 for Dow, 1,558.936 for Russell; 70% of initial price
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| Threshold levels: | 19,739.62 for Dow, 1,336.231 for Russell; 60% of initial price
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| Pricing date: | May 6
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| Settlement date: | May 11
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48133E801
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