By Kiku Steinfeld
Chicago, Feb. 17 – JPMorgan Chase Financial Co. LLC priced $429,000 of autocallable contingent interest notes due Aug. 5, 2021 linked to the least performing of the common stock of Amgen Inc., the common stock of Boston Scientific Corp. and the ordinary shares of Mylan N.V., 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 14.65% plus any previously unpaid quarterly coupons if each stock closes at or above its interest barrier level, 60% of its initial strike level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon and any previously unpaid coupons if each stock closes at or above its initial strike level on any quarterly review date other than the final one.
If the notes are not called, the payout at maturity will be par plus the final coupon and any previously unpaid coupons unless either stock finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worse 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: | Amgen Inc., Boston Scientific Corp., Mylan N.V.
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| Amount: | $429,000
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| Maturity: | Aug. 5, 2021
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| Coupon: | 14.65% annualized, payable quarterly if each underlying stock closes at or above barrier level on review date for that quarter, plus any unpaid coupons for previous quarters
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| Price: | Par
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| Payout at maturity: | Par plus final coupon and any previously unpaid coupons unless either stock finishes below barrier level, in which case 1% loss for each 1% decline of worse performing stock from initial level
|
| Call: | At par plus contingent coupon if each stock closes at or above initial strike level on any quarterly review date other than final one
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| Initial levels: | $216.05 for Amgen, $41.87 for Boston, and $21.42 for Mylan
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| Interest/barrier levels: | $129.63 for Amgen, $25.122 for Boston, and $12.852 for Mylan; 60% of initial strike levels
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| Strike date: | Jan. 31
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 5
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
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| Cusip: | 48132H4V1
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