By Wendy Van Sickle
Columbus, Ohio, May 23 – JPMorgan Chase Financial Co. LLC priced $10 million of 0% review notes due May 27, 2021 linked to the least performing of the common stocks of Lowe’s Cos., Inc., Microsoft Corp. and Procter & Gamble Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 12.25% if each stock closes at or above its initial level on any annual review date other than the final date when the call level will be 60% of the initial level.
If the notes are note called, investors will be fully exposed to any losses of the worst performing stock at maturity.
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: | Review notes
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Underlying stocks: | Lowe’s Cos., Inc., Microsoft Corp. and Procter & Gamble Co.
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Amount: | $10 million
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Maturity: | May 27, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | 1% loss for each 1% decline of worst performing stock
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Call: | At par plus 12.25% per year if each stock closes at or above initial level on any annual review date other than the final date when the call level will be 60% of the initial level
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Initial levels: | $87.39 for Lowe’s, $97.60 for Microsoft and $74.06 for Procter & Gamble
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Pricing date: | May 21
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Settlement date: | May 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48129MVF0
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