By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – JPMorgan Chase Financial Co. LLC priced $6.92 million of autocallable contingent interest notes due Nov. 29, 2023 linked to the least performing of the stocks of FedEx Corp., Advanced Micro Devices, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 12.5% per year if each stock closes at or above its interest barrier, 60% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call review date after six months.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger level, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.
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 note
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| Underlying stocks: | FedEx Corp., Advanced Micro Devices, Inc. and Microsoft Corp.
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| Amount: | $6,923,000
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| Maturity: | Nov. 29, 2023
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| Coupon: | 12.5% per year, payable quarterly if each stock closes at or above interest barrier value on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of least-performing stock from initial share price
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly call review date after six months
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| Initial share prices: | $291.68 for FedEx, $85.07 for Advanced Micro Devices and $213.86 for Microsoft
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| Coupon barriers: | $175.008 for FedEx, $51.042 for Advanced Micro Devices and $128.316 for Microsoft; 60% of initial share prices
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| Trigger levels: | $175.008 for FedEx, $51.042 for Advanced Micro Devices and $128.316 for Microsoft; 60% of initial share prices
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48132PYA6
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