By Sarah Lizee
Olympia, Wash., May 21 – JPMorgan Chase Financial Co. LLC priced $2.19 million of autocallable contingent interest notes due Aug. 20, 2020 linked to the common stock of AbbVie Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.2% if the stock closes at or above the trigger value, 65% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly review other than the first and final review dates.
The payout at maturity will be par unless the stock finishes below the initial value and has ever closed below its trigger value on any day during the life of the notes, in which case investors will be exposed to the stock’s decline from its initial share price.
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: | AbbVie Inc.
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Amount: | $2,194,000
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Maturity: | Aug. 20, 2020
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Coupon: | 7.2%, payable quarterly if stock closes at or above trigger value on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below the initial value and has ever closed below its trigger value on any day during the life of the notes, in which case investors will be exposed to the stock’s decline from its initial share price
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Call: | Automatically at par if stock closes at or above initial share price on any quarterly review date other than first and final ones
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Initial share price: | $79.46
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Trigger value: | $51.649, 65% of initial share price
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Pricing date: | May 17
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Settlement date: | May 22
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48132CKN2
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