By Kiku Steinfeld
Chicago, May 14 – JPMorgan Chase Financial Co. LLC priced $715,000 of callable contingent interest notes due April 26, 2024 linked to the least performing of the iShares MSCI Emerging Markets ETF and the Russell 2000 index, 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 biannual coupon at an annual rate of 8% if each asset closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes are callable at par on any biannual review date.
The payout at maturity will be par unless any asset finishes below its 70% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
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: | Callable contingent interest notes
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Underlying Assets: | iShares MSCI Emerging Markets ETF and Russell 2000 index
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Amount: | $715,000
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Maturity: | April 26, 2024
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Coupon: | 8% annualized, payable biannually if each asset closes at or above interest barrier level on review date for that period
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Price: | Par
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Payout at maturity: | Par unless any asset finishes below trigger level, in which case 1% loss for each 1% decline of least performing asset from initial level
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Call option: | At par on any biannual review date
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Initial levels: | $54.63 for iShares and 2,271.856 for Russell
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Interest barrier: | $38.241 for iShares and 1,590.2992 for Russell, 70% of initial values
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Trigger levels: | $38.241 for iShares and 1,590.2992 for Russell, 70% of initial values
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Pricing date: | April 23
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Settlement date: | April 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48132TQL3
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