By Wendy Van Sickle
Columbus, Ohio, May 19 – JPMorgan Chase Financial Co. LLC priced $1.12 million of autocallable contingent interest notes due May 1, 2023 linked to the least performing of the common stocks of Mastercard Inc., American Express Co. and Visa 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 8.95% if each stock closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call review date.
The payout at maturity will be par unless any stock finishes below its 70% trigger level, in which case investors will be fully exposed to the losses of the worst performing stock.
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: | Mastercard Inc., American Express Co. and Visa Inc.
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| Amount: | $1,115,000
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| Maturity: | May 1, 2023
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| Coupon: | 8.95% annualized, payable quarterly if each stock closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below 70% trigger level, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial share price on any quarterly call review date
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| Initial share prices: | $271.229 for Mastercard, $105.238 for American Express and $161.238 for Visa
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| Coupon barriers: | $251.8555 for Mastercard, $97.721 for American Express and $149.721 for Visa; 70% of initial prices
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| Trigger levels: | $251.8555 for Mastercard, $97.721 for American Express and $149.721 for Visa; 70% of initial prices
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132T2L9
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