By Sarah Lizee
Olympia, Wash., Aug. 4 – JPMorgan Chase Financial Co. LLC priced $2.85 million of autocallable contingent interest notes due Aug. 3, 2023 linked to Apple Inc. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if the lesser performing stock closes at or above its 65% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the lesser performing stock closes at or above its initial level on any quarterly review date other than the first and final ones.
The payout at maturity will be par plus the coupon unless the lesser performing stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the lesser performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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 assets: | Apple Inc. and Intel Corp.
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Amount: | $2,853,000
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Maturity: | Aug. 3, 2023
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Coupon: | 11% annualized, payable quarterly if lesser performing stock closes at or above coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus the coupon unless the lesser performing stock finishes below its trigger level, in which case investors will be fully exposed to any losses of lesser performing stock
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Call: | After six months, at par plus the contingent coupon if the lesser performing stock closes at or above its initial level on any quarterly review date other than the first and final ones
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Initial levels: | $380.16 for Apple, $48.07 for Intel
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Coupon barrier levels: | $247.104 for Apple, $31.2455 for Intel, 65% of initial level
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Trigger levels: | $247.104 for Apple, $31.2455 for Intel, 65% of initial level
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Pricing date: | July 29
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Settlement date: | July 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48132MXF3
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