By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – JPMorgan Chase Financial Co. LLC priced $1.56 million of autocallable contingent interest notes due Jan. 30, 2020 linked to the least performing of the common stocks of Apple Inc. and Microsoft Corp. and the class C capital stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if each stock closes at or above its 65% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 indexes: | Apple Inc. (Symbol: AAPL), Alphabet Inc. (Symbol: GOOG) and Microsoft Corp. (Symbol: MSFT)
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| Amount: | $1.56 million
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| Maturity: | Jan. 30, 2020
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| Coupon: | 7.5% annualized, payable quarterly if each stock closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than final dates
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| Initial levels: | $171.11 for Apple, $1,170.37 for Alphabet and $92.33 for Microsoft
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| Coupon barriers: | $111.2215 for Apple, $760.7405 for Alphabet and $60.0145 for Microsoft; 65% of initial levels
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| Trigger levels: | $102.666 for Apple, $702.222 for Alphabet and $55.398 for Microsoft; 60% of initial levels
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.1%
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| Cusip: | 48129HXU6
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