By Kiku Steinfeld
Chicago, Oct. 18 – JPMorgan Chase Financial Co. LLC priced $257,000 of autocallable contingent interest notes due Sept. 26, 2024 linked to the least performing of the common stocks of Synchrony Financial, Fifth Third Bancorp and Regions Financial Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon plus any previously unpaid coupons at an annual rate of 8.7% if each stock closes at or above its 60% 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 quarterly autocall review 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 stock: | Synchrony Financial, Fifth Third Bancorp and Regions Financial Corp.
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| Amount: | $257,000
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| Maturity: | Sept. 26, 2024
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| Coupon: | 8.7% annualized, payable quarterly plus any previously unpaid coupons 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 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 autocall review date
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| Initial levels: | $49.84 for Synchrony, $40.76 for Fifth Third and $20.40 for Regions
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| Coupon barrier levels: | $29.904 for Synchrony, $24.456 for Fifth Third and $12.24 for Regions, 60% of initial levels
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| Trigger levels: | $29.904 for Synchrony, $24.456 for Fifth Third and $12.24 for Regions, 60% of initial levels
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| Pricing date: | Sept. 24
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| Settlement date: | Sept. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132W2Z1
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