By Susanna Moon
Chicago, March 8 – JPMorgan Chase Financial Co. LLC priced $1.5 million of contingent interest autocallable notes due March 1, 2027 linked to the lesser performing of 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.
The notes will pay a contingent quarterly coupon at an annual rate of 8.7% if each underlying index closes at or above its coupon barrier, 70% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each underlying index closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
| 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 indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $1.5 million
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| Maturity: | March 1, 2027
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| Coupon: | 8.7% per year, payable quarterly if each index closes at or above its downside threshold on the review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its 50% trigger level, in which case 1% loss for each 1% decline of worse performing index
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| Call: | At par plus the contingent coupon if each underlying index closes at or above its initial level on any review date other than first and final dates
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| Initial levels: | 3,304.09 for Stoxx, 1,394.525 for Russell
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| Coupon barriers: | 2,312.863 for Stoxx, 976.1675 for Russell; 70% of initial levels
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| Trigger levels: | 1,652.045 for Stoxx, 697.2625 for Russell; 50% of initial levels
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| Pricing date: | Feb. 24
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC handling distribution
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| Fees: | 2.85%
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| Cusip: | 46646QLT0
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