By Wendy Van Sickle
Columbus, Ohio, Aug. 19 – JPMorgan Chase Financial Co. LLC priced $13.32 million of autocallable contingent interest notes due Aug. 16, 2024 linked to the performance of Ford Motor Co. and General Motors Co., 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 8.75% 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 automatically called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date other than the first and final dates.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 60% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | Ford Motor Co., General Motors Co.
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| Amount: | $13,318,000
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| Maturity: | Aug. 16, 2024
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| Coupon: | 8.75% annualized, payable quarterly if each stock closes at or above interest barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of least performing stock from initial level
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than first and final dates
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| Initial levels: | $13.59 for Ford, $53.65 for General Motors
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| Interest barrier: | $8.154 for Ford, $32.19 for General Motors; 60% of initial values
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| Trigger levels: | $8.154 for Ford, $32.19 for General Motors; 60% of initial values
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| Pricing date: | Aug. 13
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| Settlement date: | Aug. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132WBA6
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