By Kiku Steinfeld
Chicago, June 25 – JPMorgan Chase Financial Co. LLC priced $2.73 million of autocallable contingent interest notes due June 29, 2022 linked to Advanced Micro Devices, Inc. shares, 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 annualized rate of 15.7% if the stock closes at or above its coupon barrier level, 75% of the initial level, on the observation date for that period, plus any previously unpaid coupon.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly valuation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 75% trigger level, in which case investors will be fully exposed to the stock’s losses.
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: | Advanced Micro Devices, Inc.
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Amount: | $2,725,000
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Maturity: | June 29, 2022
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Coupon: | 15.7% per year, payable each quarter that stock closes at or above its interest barrier on the observation date for that period, plus any unpaid coupon
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Price: | Par
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Payout at maturity: | Par unless stock finishes below its trigger level, in which case full exposure to the stock’s losses
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Call: | At par plus the contingent coupon if stock closes at or above the initial level on any quarterly valuation date other than final date
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Initial level: | $60.9825
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Interest barrier: | $39.25, 75% of initial level
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Trigger level: | $39.25, 75% of initial level
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Pricing date: | June 11
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Settlement date: | June 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48132UMJ9
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