By Wendy Van Sickle
Columbus, Ohio, Nov. 22 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Nov. 24, 2023 linked to the least performing of the Russell 2000 index, the iShares MSCI EAFE ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.4% per year if each asset closes at or above its interest barrier, 50% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly review date other than the first, second, third and final ones.
If the notes have not been called, the payout at maturity will be par unless any asset finishes below its trigger level, 50% of its initial level, in which case investors will lose 1% for every 1% that the least-performing asset declines.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | Russell 2000 index, iShares MSCI EAFE ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,004,000
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| Maturity: | Nov. 24, 2023
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| Coupon: | 7.4% per year, payable quarterly if each asset closes at or above interest barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing asset declines
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any quarterly review date other than the first, second, third and final ones
|
| Initial levels: | $68.31 for EAFE, 1,598.292 for Russell and $20.59 for Oil
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| Interest barriers: | $34.155 for EAFE, 799.146 for Russell and $10.295 for Oil; 50% of initial levels
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| Trigger values: | $34.155 for EAFE, 799.146 for Russell and $10.295 for Oil; 50% of initial levels
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| Pricing date: | Nov. 19
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| Settlement date: | Nov. 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.8%
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| Cusip: | 48132FF84
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