By Sarah Lizee
Olympia, Wash., May 22 – JPMorgan Chase Financial Co. LLC priced $575,000 of autocallable contingent interest notes due Aug. 24, 2021 linked to the common stock of Teladoc Health, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above the coupon barrier price – 60% of the initial share price – on a monthly review date, the issuer will pay a contingent coupon for that month at an annualized rate of 10%.
If the shares close at or above 80% of the initial price on any monthly review date other than the first, second and final ones, the notes will be called at par.
The payout at maturity will be par unless the stock closes below the 50% trigger price, in which case investors will be fully exposed to the share price decline.
J.P. Morgan Securities LLC is the underwriter.
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: | Teladoc Health, Inc. (Symbol: TDOC)
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Amount: | $575,000
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Maturity: | Aug. 24, 2021
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Coupon: | 10%, payable each month that stock closes at or above coupon barrier price on review date for that month
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Price: | Par of $1,000
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Payout at maturity: | Par unless stock closes below trigger price, in which case full exposure to share price decline
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Call: | If shares close at or above 80% of the initial price on any monthly review date other than the first, second and final ones, notes will be called at par
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Initial level: | $175.66
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Coupon barrier price: | $105.396; 60% of initial price
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Trigger price: | $87.83, 50% of initial price
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Pricing date: | May 19
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Settlement date: | May 22
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48132KH81
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