By Kiku Steinfeld
Chicago, Feb. 15 – JPMorgan Chase Financial Co. LLC priced $348,000 of autocallable contingent interest notes due Dec. 5, 2022 linked to the common stock of Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if the stock closes at or above its 66% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the first through fifth and final dates.
The payout at maturity will be par unless the stock finishes below its 66% trigger level, in which case investors will be fully exposed to the stock’s losses.
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 stock: | Micron Technology, Inc.
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Amount: | $348,000
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Maturity: | Dec. 5, 2022
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Coupon: | 10% annualized, payable monthly if stock closes at or above coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will be fully exposed to the stock’s losses
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Call: | At par plus contingent coupon if stock closes at or above initial level on any review date other than first through fifth and final dates
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Initial level: | $73.70
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Coupon barrier level: | $48.642, 66% of initial level
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Trigger level: | $48.642, 66% of initial level
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Pricing date: | Aug. 31
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Settlement date: | Sept. 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0%
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Cusip: | 48132WEU9
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