By Kiku Steinfeld
Chicago, Nov. 28 – JPMorgan Chase Financial Co. LLC priced $585,000 of autocallable contingent interest notes due March 28, 2024 linked to the common stocks of Visa Inc. and American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if each underlying stock closes at or above its 70% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting June 23 and on any subsequent quarterly review date if each stock closes at or above its initial level.
At maturity the payout will be par unless the worst performing stock closes below its 70% trigger level in which case investors will be fully exposed to the decline 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 stocks: | Visa Inc. and American Express Co.
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Amount: | $585,000
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Maturity: | March 28, 2024
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Coupon: | 10%, paid quarterly, if each underlying stock closes at or above its 70% trigger level on the related quarterly observation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
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Call: | Automatically at par starting June 23 and on any subsequent quarterly review date if each stock closes at or above its initial level
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Initial levels: | $214.68 for Visa, $186.02 for Am Ex
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Trigger levels: | $150.276 for Visa, $130.214 Am Ex, 70% of initial level
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Pricing date: | March 24
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Settlement date: | March 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 48133D6X3
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