By Wendy Van Sickle
Columbus, Ohio, March 26 – JPMorgan Chase Financial Co. LLC priced $937,000 of autocallable contingent interest notes due March 8, 2024 linked to Netflix, 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 11.6% if the stock closes at or above its coupon barrier level, 70% 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 final date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its initial price and ever closes below its 70% trigger level, in which case investors will be fully exposed to any 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: | Netflix, Inc.
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Amount: | $937,000
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Maturity: | March 8, 2024
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Coupon: | 11.6% per year, payable each quarter that stock closes at or above its 70% 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 closes below its initial price and ever closes below its trigger level, in which case full exposure to any 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 final date
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Initial level: | $516.39
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Coupon barrier: | $361.473, 70% of initial level
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Trigger level: | $361.473, 70% of initial level
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Pricing date: | March 5
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Settlement date: | March 10
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.75%
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Cusip: | 48132TBH8
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