By Marisa Wong
Los Angeles, Sept. 24 – JPMorgan Chase Financial Co. LLC priced $1.14 million of autocallable contingent interest notes due Dec. 23, 2021 linked to the common stock of American International Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If AIG stock closes at or above the coupon barrier – 65% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at a rate of 14.25% per year. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on any quarterly review date other than the first and final review dates, the notes will be called at par plus the contingent coupon.
If the notes are not called and AIG shares finish at or above the 65% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | American International Group, Inc. (Symbol: AIG)
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| Amount: | $1,144,000
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| Maturity: | Dec. 23, 2021
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| Coupon: | 14.25%, payable each quarter that stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if AIG shares finish at or above trigger price; otherwise, par plus stock return with full exposure to losses
|
| Call: | Automatically at par plus contingent coupon if AIG shares close at or above initial price on any quarterly review date other than first and final review dates
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| Initial share price: | $27.99
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| Coupon barrier: | $18.1935, 65% of initial price
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| Trigger price: | $18.1935, 65% of initial price
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| Pricing date: | Sept. 18
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| Settlement date: | Sept. 23
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48132MZ95
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