By William Gullotti
Buffalo, N.Y., April 13 – JPMorgan Chase Financial Co. LLC priced $3.73 million of trigger autocallable contingent yield notes due April 11, 2028 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 10.65% per year if each index closes at or above the coupon barrier, 70% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par plus coupon if each index closes at or above the initial level on any quarterly observation date after six months.
If the notes are not called and the final level of each index is greater than or equal to the 70% threshold level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index
|
| Amount: | $3,725,100
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| Maturity: | April 11, 2028
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| Contingent coupon: | 10.65% annual rate, payable quarterly if each index closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon if each index finishes at or above the threshold level; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
|
| Call: | Automatically at par plus coupon if index closes at or above initial level on any quarterly observation date after six months
|
| Initial level: | 1,754.464 for Russell, 4,309.45 for Stoxx
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| Coupon barrier: | 1,228.125 for Russell, 3,016.62 for Stoxx; 70% of initial level
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| Threshold level | 1,228.125 for Russell, 3,016.62 for Stoxx; 70% of initial level
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| Pricing date: | April 6
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| Settlement date: | April 13
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | None
|
| Cusip: | 48130Y826
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