By William Gullotti
Buffalo, N.Y., Aug. 19 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Sept. 22, 2022 linked to the least performing of the S&P 500 index and the iShares MSCI EAFE ETF, 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 5% if each underlier closes at or above its interest barrier level, 60% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly review date other than the final.
If the notes have not been called, the payout at maturity will be par plus the final coupon unless either underlier closes below its 60% trigger value during the life of the notes and either underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its 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: | Autocallable contingent interest notes
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| Underlying assets: | S&P 500 index, iShares MSCI EAFE ETF
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| Amount: | $1,000,000
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| Maturity: | Sept. 22, 2022
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| Coupon: | 5% annual rate, payable quarterly if each underlying 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 plus the final coupon unless either underlier closes below its 60% trigger value during the life of the notes and either underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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| Call: | Automatically at par plus contingent coupon if each underlying closes at or above initial level on any quarterly review date other than the final
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| Initial levels: | $80.18 for ETF, 4,221.86 for S&P
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| Interest barrier: | $48.108 for ETF, 2,533.116 for S&P; 60% of initial levels
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| Trigger levels: | $48.108 for ETF, 2,533.116 for S&P; 60% of initial levels
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| Pricing date: | June 17
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| Settlement date: | June 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48132UPZ0
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