Chicago, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $345,000 of autocallable contingent interest notes due Jan. 22, 2021 linked to the least performing of the common stock of FedEx Corp. and the American Depositary Shares of Baidu, Inc., 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 10% plus any previously unpaid coupon payments if each stock closes at or above its interest barrier level, 60% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon and any unpaid coupons if each stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par plus the coupon and any unpaid coupons unless any stock finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing stock from its initial level.
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 stocks: | FedEx Corp. and Baidu, Inc.
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| Amount: | $345,000
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| Maturity: | Jan. 22, 2021
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| Coupon: | 10% annualized plus any unpaid coupons, payable quarterly if each underlying stock closes at or above interest barrier level on review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon and any unpaid coupons unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of worse performing stock from initial level
|
| Call: | At par plus contingent coupon and unpaid coupons if each stock closes at or above its initial value on any quarterly review date other than the final date
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| Initial levels: | $167.13 for FedEx and $112.25 for Baidu
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| Interest/trigger levels: | $100.278 for FedEx and $67.35 for Baidu; 60% of initial levels
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| Pricing date: | July 19
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| Settlement date: | July 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132C6X6
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