By Wendy Van Sickle
Columbus, Ohio, June 30 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Aug. 25, 2022 linked to the common shares of Steel Dynamics, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.8% if the stock closes at or above its 75% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless the stock finishes below 75% buffer level, in which case investors will lose 1.3333% for every 1% decline beyond 25%.
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 stock: | Steel Dynamics, Inc.
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Amount: | $500,000
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Maturity: | Aug. 25, 2022
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Coupon: | 7.8% annualized, payable quarterly if stock closes at or above coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its buffer level, in which case investors will lose 1.3333% for every 1% decline beyond 25%
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Call: | At par plus contingent coupon if stock closes at or above initial level any review date other than first and final dates
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Initial level: | $61.54
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Coupon barrier level: | $46.144, 75% of initial level
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Buffer level: | $46.144, 75% of initial level
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Pricing date: | May 21
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Settlement date: | May 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48132UCV3
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