By Wendy Van Sickle
Columbus, Ohio, April 10 – JPMorgan Chase Financial Co. LLC priced $6.95 million of contingent interest notes due April 24, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.5% if the index closes at or above its 80% coupon barrier on the review date for that period.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par plus any contingent coupon unless the index finishes below its 80% trigger level, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by JPMorgan Chase & Co.
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 index: | S&P 500
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Amount: | $6.95 million
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Maturity: | April 24, 2019
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Coupon: | 6.95% annualized, payable quarterly if index closes at or above coupon barrier on review date for that period
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss for each 1% decline
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Call: | At par plus contingent coupon if index closes at or above initial level on any quarterly review date other than final date
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Initial level:
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Coupon barrier: | 2,083.576; 80% of initial level
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Trigger level: | 2,083.576; 80% of initial level
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Pricing date: | April 6
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Settlement date: | April 11
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48129MLB0
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