By William Gullotti
Buffalo, N.Y., Oct. 7 – JPMorgan Chase Financial Co. LLC priced $5.71 million of autocallable contingent interest notes due Sept. 28, 2023 linked to the common stock of UiPath, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 15% if the stock closes above its 60.5% coupon barrier level on the relevant review date.
If the stock closes above its initial level on any quarterly review date other than the final, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus the final contingent interest payment if the stock finishes at or above its 60.5% trigger level.
Otherwise, investors will be fully exposed to the decline of the stock from its initial price.
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: | UiPath, Inc.
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Amount: | $5,713,000
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Maturity: | Sept. 28, 2023
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Coupon: | 15% annual rate, payable quarterly if stock closes at or above coupon barrier on review date for that period
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Price: | Par
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Payout at maturity: | Par plus interest payment if stock finishes at or above trigger level; otherwise, full exposure to losses of stock
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Call: | At par plus interest payment if stock finishes above initial level on quarterly review date other than the final
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Initial price: | $52.70
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Coupon barrier level: | $31.8835; 60.5% of initial price
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Trigger level: | $31.8835; 60.5% of initial price
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Pricing date: | Sept. 24
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Settlement date: | Sept. 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 48132WWW5
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