By Sarah Lizee
Olympia, Wash., Aug. 18 – JPMorgan Chase Financial Co. LLC priced $2.1 million of autocallable contingent interest notes due Nov. 16, 2021 linked to Schlumberger NV common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 18.75% if the stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly review date other than the first and final ones.
The payout at maturity will be par unless the stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses.
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: | Schlumberger NV
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Amount: | $2.1 million
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Maturity: | Nov. 16, 2021
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Coupon: | 18.75% annualized, payable quarterly if 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 the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
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Call: | At par if stock closes at or above its initial level on any quarterly review date other than the first and final ones
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Initial level: | $20.30
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Coupon barrier level: | $12.18, 60% of initial level
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Trigger level: | $12.18, 60% of initial level
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Pricing date: | Aug. 11
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Settlement date: | Aug. 14
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Agent: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48132MYF2
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