By William Gullotti
Buffalo, N.Y., Feb. 23 – JPMorgan Chase Financial Co. LLC priced $6.31 million of contingent income autocallable securities due Feb. 14, 2025 linked to the stock performance of American Express Co., Mastercard Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The securities will pay a contingent quarterly coupon at an annualized rate of 8% if each underlying stock closes at or above the 60% downside threshold on the related observation date.
If each underlying stock closes at or above its initial price on any of the quarterly determination dates, the securities will be redeemed at par plus the contingent coupon.
If each underlying stock finishes at or above the 60% downside threshold, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial share price.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | American Express Co., Mastercard Inc., Visa Inc.
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| Amount: | $6,305,000
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| Maturity: | Feb. 14, 2025
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| Coupon: | 8% annualized, payable quarterly if each underlying stock closes at or above downside threshold on the relevant observation date
|
| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if each underlying stock finishes at or above downside threshold; otherwise, lose 1% for every 1% decline of the worst performer from its initial price
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| Call: | At par plus contingent coupon if each underlying stock closes at or above initial share price on any quarterly determination date
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| Initial share prices: | $191.81 for AmEx, $369.77 for Mastercard, $224.69 for Visa
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| Downside thresholds: | $115.086 for AmEx, $221.862 for Mastercard, $134.814 for Visa; 60% of initial prices
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| Pricing date: | Feb. 11
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| Settlement date: | Feb. 16
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 2.5%
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| Cusip: | 48133A171
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