By Taylor Fox
New York, March 26 – JPMorgan Chase Financial Co. LLC priced $1.44 million of autocallable contingent interest notes due Sept. 20, 2022 linked to the least performing of the Russell 2000 index and the S&P 500 index, 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 monthly coupon at an annual rate of 9.25% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the first through fifth and final dates.
The payout at maturity will be par plus the final coupon unless either index close below its 70% trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for each 1% decline from the worst performer’s 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 indexes: | Russell 2000 index and S&P 500 index
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Amount: | $1,443,000
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Maturity: | Sept. 20, 2022
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Coupon: | 9.25% annualized, payable monthly if each index closes at or above interest barrier level on review date for that period
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Price: | Par
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Payout at maturity: | Par plus any coupon unless any index closes below trigger level during life of notes and any index finishes below initial level, in which case 1% loss for each 1% decline of least performing index from initial level
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date other than the first through fifth and final dates
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Initial levels: | 3,968.94 for S&P and 2,360.168 for Russell
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Interest barrier: | 2,778.258 for S&P and 1,652.1176 for Russell; 70% of initial levels
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Trigger levels: | 2,778.258 for S&P and 1,652.1176 for Russell; 70% of initial levels
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Pricing date: | March 15
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Settlement date: | March 18
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.25%
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Cusip: | 48132RY79
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