By William Gullotti
Buffalo, N.Y., Feb. 5 – JPMorgan Chase Financial Co. LLC sold $1.37 million of autocallable contingent interest notes due Aug. 4, 2025 linked to the performance of the stocks of Apple Inc. and Amazon.com, Inc., 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 annual rate of 10% if each stock closes at or above its interest barrier level, 62% of its initial level, on the corresponding review date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly call date.
If the notes are not called and each stock finishes at or above its 62% trigger value, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% decline of the worst performing stock from initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Apple Inc., Amazon.com, Inc.
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| Amount: | $1,365,000
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| Maturity: | Aug. 4, 2025
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| Coupon: | 10% annualized, payable quarterly if each underlying stock closes at or above interest barrier level on relevant observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above trigger value, par plus final coupon; otherwise, lose 1% for each 1% decline of the worst performer from initial level
|
| Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call date
|
| Initial levels: | $191.73 for Apple, $161.26 for Amazon
|
| Interest barriers: | $118.8726 for Apple, $99.9812 for Amazon; 62% of initial levels
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| Trigger values: | $118.8726 for Apple, $99.9812 for Amazon; 62% of initial levels
|
| Pricing date: | Jan. 29
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| Settlement date: | Feb. 1
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48134TZZ0
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