Chicago, Aug. 3 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due July 30, 2024 linked to the common stock of Palo Alto Networks, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.25%, paid quarterly, if the underlying stock closes at or above its 55% trigger level on the related quarterly observation date.
The securities will be called automatically starting Oct. 25 at par if the price of the underlying stock is greater than or equal to its strike price and on any subsequent quarterly review date.
At maturity the payout will be par unless the stock closes below its 55% trigger level in which case investors will be fully exposed to the decline of the 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 stock: | Palo Alto Networks, Inc. (Ticker: PANW)
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Amount: | $500,000
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Maturity: | July 30, 2024
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Coupon: | 7.25% annual rate, paid quarterly, if the underlying stock closes at or above its 55% trigger level on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the stock closes below its trigger level in which case investors will be fully exposed to the decline in the stock
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Call: | Automatically starting Oct. 25 at par if the price of the underlying stock is greater than or equal to its strike price and on any subsequent quarterly review date
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Initial level: | $242.91
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Trigger level: | $133.6005, 55% of initial level
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Strike date: | July 25
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48133YQP2
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