By Susanna Moon
Chicago, March 20 – JPMorgan Chase Financial Co. LLC priced 500,000 of autocallable contingent interest notes due March 7, 2022 linked to the least performing of the common stocks of Apple Inc., Cisco Systems, Inc. and Microsoft 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 8.2% if each stock closes at or above its 55% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par unless any stock finishes below its 55% 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 stocks: | Apple Inc. (Symbol: AAPL), Cisco Systems, Inc. (Symbol: CSCO), Microsoft Corp. (Symbol: MSFT)
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Amount: | $500,000
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Maturity: | March 7, 2022
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Coupon: | 8.2% annualized, payable quarterly if each stock closes at or above 55% 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 55% 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 initial level on any quarterly review date other than first, second, third and final dates
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Initial levels: | $176.21 for Apple, $44.06 for Cisco and $93.05 for Microsoft
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Trigger levels: | $96.9155 for Apple, $24.233 for Cisco and $51.1775 for Microsoft; 55% of initial levels
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Pricing date: | March 2
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Settlement date: | March 7
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.65%
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Cusip: | 48129HU21
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