By Wendy Van Sickle
Columbus, Ohio, April 4 – JPMorgan Chase Financial Co. LLC priced $3.01 million of 0% step-up autocallable buffered equity notes due March 31, 2023 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.
If each index closes at or above its initial level on any annual call observation dates, the notes will be automatically called at par plus a 13.25% annualized call premium. The call level is 102% of the initial level on the first review date and steps up by 2% each subsequent year.
If the notes are not called and each index return is positive, the payout at maturity will be par plus 1.5 times the return of the lesser-performing index.
If the lesser-performing index falls by up to 50%, the payout will be par. If the lesser-performing index falls by more than 50%, investors will lose 1% for every 1% decline of lesser-performing index.
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: | Step-up autocallable buffered equity notes
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Underlying indexes: | Euro Stoxx 50, Russell 2000
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Amount: | $3.01 million
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Maturity: | March 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser-performing index return is zero or positive, par plus 1.5 times return of lesser-performing index; if lesser-performing index falls by up to 50%, par; if lesser-performing index falls by more than 50%, 1% loss for every 1% decline of lesser-performing index
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Call: | Automatically at par plus a call premium of 13.25% a year if index closes at or above its call level on any annual call observation dates; call level is 102% of initial level on first observation date and steps up by 2% each subsequent year
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Initial levels: | 1,543.717 for Russell and 3,278.72 for Stoxx
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Pricing date: | March 26
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Settlement date: | March 29
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Agent: | JPMorgan Securities LLC
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Fees: | 4.07238%
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Cusip: | 48129MBC9
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