Chicago, May 17 – JPMorgan Chase Financial Co. LLC sold $860,000 of autocallable contingent interest notes due Oct. 24, 2023 linked to the lesser performing of the stocks of Bank of America Corp. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 10.25% if each stock closes at or above its interest barrier level, 80% of its initial level, on the corresponding review date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly call date.
The payout at maturity will be par plus the final coupon unless any stock finishes below the 80% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
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 stocks: | Bank of America Corp. and Visa Inc.
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Amount: | $860,000
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Maturity: | Oct. 24, 2023
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Coupon: | 10.25 % annualized, payable quarterly if each underlying stock closes at or above interest barrier level on relevant observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of worst performing stock from initial level
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Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call date
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Initial levels: | $46.48 for BofA, $233.52 for Visa
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Interest barriers: | $37.184 for BofA, $186.816 for Visa; 80% of initial levels
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Trigger values: | $37.184 for BofA, $186.816 for Visa; 80% of initial levels
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Strike date: | Oct. 19, 2021
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Pricing date: | Oct. 20, 2021
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Settlement date: | Oct. 25, 2021
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48132YFD2
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