By Wendy Van Sickle
Columbus, Ohio, March 10 – JPMorgan Chase Financial Co. LLC priced $14.79 million of contingent income callable securities due March 7, 2024 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 8.15% if the index closes at or above its coupon barrier level, 75% of its initial index level, on the relevant observation date.
The notes are callable at par plus any coupon due on any contingent coupon payment date.
If the notes have not been called, the payout at maturity will be par plus the final coupon unless the index finishes below its 75% downside threshold level. In that case, investors will lose 1% for every 1% decline of the index from its initial level.
J.P. Morgan Securities LLC is the underwriter with Morgan Stanley Wealth Management as a selected dealer.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Contingent income callable securities
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Underlying index: | S&P 500 index
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Amount: | $14.79 million
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Maturity: | March 7, 2024
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Coupon: | 8.15% per year, payable quarterly if the index closes at or above coupon barrier on the relevant observation date
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Price: | Par
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Payout at maturity: | Par plus the final coupon unless the index finishes below its downside threshold level, in which case investors will lose 1% for every 1% decline from initial level
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Call option: | At par plus any coupon due on any contingent coupon payment date
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Initial level: | 4,328.87
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Coupon barrier: | 3,246.6525; 75% of initial levels
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Downside threshold: | 3,246.6525; 75% of initial levels
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Pricing date: | March 4
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Settlement date: | March 9
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Underwriter: | J.P. Morgan Securities LLC
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Selected dealer: | Morgan Stanley Wealth Management
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Fees: | 1.5%
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Cusip: | 48133DHV5
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