By Susanna Moon
Chicago, March 15 – JPMorgan Chase Financial Co. LLC priced $2.71 million of callable contingent interest notes due March 3, 2020 linked to Microsoft Corp. 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 8.4% if the stock closes at or above its 70% 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 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 be fully exposed to any losses.
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: | Callable contingent interest notes
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Underlying assets: | Microsoft Corp. (Symbol: MSFT)
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Amount: | $2.71 million
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Maturity: | March 3, 2020
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Coupon: | 8.4% annualized, payable quarterly if stock closes at or above 70% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless stock finishes below trigger, in which case 1% loss for each 1% decline
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Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than final date
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Initial level: | $94.20
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Trigger level: | $65.94, 70% of initial level
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Pricing date: | Feb. 27
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Settlement date: | March 2
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 48129H6P7
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