By Cady Vishniac
Detroit, Dec. 14 – JPMorgan Chase Financial Co. LLC priced $2.21 million of autocallable contingent interest notes due Jan. 13, 2022 linked to the American Depository Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a monthly contingent interest payment at an annual rate of 10.25% if the stock closes above its 70% coupon barrier level on the relevant review date.
If the stock closes above its initial level on any monthly review date starting on the sixth review date, June 8, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus any contingent interest payment due if the final level of the stock closes at or above its final barrier, 70% of its initial price.
Otherwise, investors will be fully exposed to the decline of the stock.
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: | American Depository Shares of Alibaba Group Holding Ltd.
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Amount: | $ | 2,209,000
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Maturity: | Jan. 13, 2022
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Coupon: | 10.25% annual rate, payable monthly, if stock closes at or above coupon barrier on review date for that period
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Price: | Par
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Payout at maturity: | Par plus interest payment if stock finishes above final barrier; otherwise, full exposure to losses of stock
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Call: | At par plus interest payment if stock finishes above initial level on monthly review starting at six months
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Initial price: | $266.09
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Coupon barrier price: | $186.263, 70% of initial price
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Final barrier price: | $186.263, 70% of initial price
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Pricing date: | Dec. 8
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Settlement date: | Dec. 11
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48132PF25
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