By Marisa Wong
Morgantown, W.Va., Aug. 7 – JPMorgan Chase Financial Co. LLC priced $2.17 million of autocallable contingent interest notes due July 30, 2020 linked to the lesser performing of the common stocks of General Electric Co. and Apple Inc., 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 8.25% if each stock closes at or above its 75% coupon barrier level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if both stocks close at or above their initial levels on any quarterly review date other than the first and final dates.
The payout at maturity will be par plus the final contingent interest payment unless the final share price of either stock is lower than the 75% trigger level, in which case investors will lose 1% for each 1% decline of the lesser 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: | General Electric Co. (Symbol: GE) and Apple Inc. (Symbol: AAPL)
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| Amount: | $2,167,000
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| Maturity: | July 30, 2020
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| Coupon: | 8.25% per year, payable quarterly if each 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 contingent coupon if each stock finishes at or above trigger value; otherwise, full exposure to decline of worse-performing stock from initial share price
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date other than first and final review dates
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| Initial share prices: | $25.79 for GE, $150.56 for Apple
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| Coupon barriers: | $19.3425 for GE, $112.92 for Apple; 75% of initial prices
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| Trigger values: | $19.3425 for GE, $112.92 for Apple; 75% of initial prices
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| Pricing date: | July 27
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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: | 46647MYZ0
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