By Wendy Van Sickle
Columbus, Ohio, June 7 – JPMorgan Chase Financial Co. LLC priced $1.25 million of autocallable contingent interest notes due May 10, 2024 linked to the least performing of the American Depository shares of Applied Materials, Inc., General Motors Co. and Lincoln National Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.5% if each stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly autocall review date after six months.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses 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 assets: | Applied Materials, Inc., General Motors Co. and Lincoln National Corp.
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Amount: | $1.25 million
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Maturity: | May 10, 2024
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Coupon: | 14.5% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
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Call: | At par if each stock closes at or above initial level on quarterly autocall review date after six months
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Initial levels: | $132.95 for Applied Materials, $58.99 for General Motors, $69.30 for Lincoln National
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Coupon barriers/trigger levels: | $79.77 for Applied Materials, $35.394 for General Motors, $41.58 for Lincoln National; 60% of initial levels
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Pricing date: | May 7
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Settlement date: | May 12
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 48132TG42
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