By William Gullotti
Buffalo, N.Y., May 1 – JPMorgan Chase Financial Co. LLC sold $1 million of autocallable contingent interest notes due April 29, 2027 linked to the performance of the stocks of Delta Air Lines, Inc., Dollar Tree, Inc. and Charles Schwab 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 monthly coupon at an annual rate of 14% if each stock closes at or above its interest barrier level, 50% of its initial level, on the corresponding review date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any monthly call date after six months.
If the notes are not called and each stock finishes at or above its 50% trigger value, the payout at maturity will be par plus final coupon.
Otherwise, 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying stocks: | Delta Air Lines, Inc., Dollar Tree, Inc., Charles Schwab Corp.
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Amount: | $1 million
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Maturity: | April 29, 2027
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Coupon: | 14% annualized, payable monthly if each underlying stock closes at or above interest barrier level on relevant observation date
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Price: | Par
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Payout at maturity: | If each stock finishes at or above trigger value, par plus final coupon; otherwise, full exposure to decline of worst performer from initial level
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Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly call date after six months
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Initial levels: | $47.94 for Delta, $122.39 for Dollar Tree, $75.19 for Schwab
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Interest barriers: | $23.97 for Delta, $61.195 for Dollar Tree, $37.595 for Schwab; 50% of initial levels
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Trigger values: | $23.97 for Delta, $61.195 for Dollar Tree, $37.595 for Schwab; 50% of initial levels
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Pricing date: | April 24
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Settlement date: | April 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48134XU60
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