By Kiku Steinfeld
Chicago, April 12 – JPMorgan Chase Financial Co. LLC priced $283,000 of autocallable contingent interest notes due Sept. 26, 2024 linked to the least performing of the common stocks of Cisco Systems, Inc. and Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each stock closes at or above its 60% coupon barrier on the review date for that quarter. Payments will include any previously unpaid coupons for prior quarters.
The notes will be called at par plus the contingent coupon if each stock closes at or above 100% of its initial level on any quarterly call review date other than the final one
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst 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 stock: | Cisco Systems, Inc. and Advanced Micro Devices, Inc.
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Amount: | $283,000
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Maturity: | Sept. 26, 2024
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Coupon: | 10% annualized, payable quarterly plus any previously unpaid coupons if each stock closes at or above 60% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
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Call: | At par plus contingent coupon if each stock closes at or above 100% of initial level on any quarterly call review date other than the final one
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Initial levels: | $56.69 for Cisco and $106.15 for Advanced Micro
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Trigger levels: | $34.014 for Cisco and $63.69 for Advanced Micro; 60% of initial levels
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Pricing date: | Sept. 24, 2021
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Settlement date: | Sept. 29, 2021
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48132W2X6
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