By Wendy Van Sickle
Columbus, Ohio, Oct. 30 – JPMorgan Chase Financial Co. LLC priced $1.16 million of autocallable contingent interest notes due May 3, 2022 linked to the least performing of the stocks of Visa Inc., Alibaba Group Holding Ltd. and Apollo Global Management, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at the rate of 6.65% per year if each stock closes at or above its interest barrier, 50% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above 95% of its initial share price on any quarterly review date after three months.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger level, 50% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock finishes below 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 note
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Underlying stocks: | Visa Inc., Alibaba Group Holding Ltd. and Apollo Global Management, Inc.
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Amount: | $1,158,000
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Maturity: | May 3, 2022
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Coupon: | 6.65% per year, payable monthly if each stock closes at or above interest barrier value on review date for that month
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of least-performing stock from initial share price
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Call: | Automatically at par plus contingent coupon if each stock closes at or above 95% of initial price on any quarterly review date after three months
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Initial share prices: | $306.87 for Alibaba, $193.07 for Visa and $40.16 for Apollo
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Coupon barriers: | $153.435 for Alibaba, $96.535 for Visa and $20.08 for Apollo; 50% of initial share prices
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Trigger levels: | $153.435 for Alibaba, $96.535 for Visa and $20.08 for Apollo; 50% of initial share prices
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Pricing date: | Oct. 27
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Settlement date: | Nov. 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.85%
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Cusip: | 48132PSF2
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