By Wendy Van Sickle
Columbus, Ohio, April 8 – JPMorgan Chase Financial Co. LLC priced $731,000 of autocallable contingent interest notes due June 30, 2022 linked to Amazon.com, Inc. shares, 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 annualized rate of 6.5% if the stock closes at or above its coupon barrier level, 74% of the initial level, on the observation 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 valuation date other than the first and final dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 74% trigger level, in which case investors will be fully exposed to the stock’s losses.
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: | Amazon.com, Inc.
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Amount: | $731,000
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Maturity: | June 30, 2022
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Coupon: | 6.5% per year, payable each quarter that stock closes at or above its 74% coupon barrier on the observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless stock finishes below its trigger level, in which case full exposure to stock’s losses
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Call: | At par plus the contingent coupon if stock closes at or above the initial level on any quarterly valuation date other than first and final date
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Initial level: | $3,046.26
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Coupon barrier: | $2,254.2324, 74% of initial level
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Trigger level: | $2,254.2324, 74% of initial level
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Pricing date: | March 25
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Settlement date: | March 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48132TFQ4
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