By Susanna Moon
Chicago, Sept. 28 – JPMorgan Chase Financial Co. LLC priced $1.76 million of callable contingent interest notes due Sept. 29, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6.5% if each index 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 index closes at or above its initial level on any review date other than the first through 11th and final dates.
The payout at maturity will be par unless either index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
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: | Callable contingent interest notes
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Underlying indexes: | Euro Stoxx 50 index and Russell 2000 index
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Amount: | $1,761,000
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Maturity: | Sept. 29, 2023
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Coupon: | 6.5% annualized, payable quarterly if each index closes at or above 65% coupon barrier on review date that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless either index finishes below trigger, in which case 1% loss for each 1% decline of worse performing index
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Call option: | At par plus contingent coupon on any review date other than the first through 11th and final dates
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Initial levels: | 3,541.42 for Stoxx and 1,450.781 for Russell
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Trigger levels: | 2,301.923 for Stoxx and 943.00765 for Russell; 65% of initial levels
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Pricing date: | Sept. 22
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Settlement date: | Sept. 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 46647M4S9
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