By William Gullotti
Buffalo, N.Y., Dec. 14 – JPMorgan Chase Financial Co. LLC sold $1.29 million of autocallable contingent interest notes due Sept. 6, 2024 linked to the performance of the stocks of Exxon Mobil Corp., Microsoft 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 monthly coupon, equivalent to 8.7375% for the term, if each stock closes at or above its interest barrier level, 70% 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 monthly call date after three months.
If the notes are not called and each stock finishes at or above its 70% trigger value, the payout at maturity will be par plus the final coupon.
Otherwise, 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: | Exxon Mobil Corp., Microsoft Corp., Visa Inc.
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Amount: | $1,294,000
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Maturity: | Sept. 6, 2024
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Coupon: | 8.7375% for the term, payable monthly 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: | If each stock finishes at or above trigger value, par plus final coupon; otherwise, full exposure to decline of worst performer 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 monthly call date after three months
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Initial levels: | $102.99 for Exxon Mobil, $374.51 for Microsoft, $256.45 for Visa
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Interest barriers: | $72.093 for Exxon Mobil, $262.157 for Microsoft, $179.515 for Visa; 70% of initial levels
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Trigger values: | $72.093 for Exxon Mobil, $262.157 for Microsoft, $179.515 for Visa; 70% of initial levels
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Pricing date: | Dec. 1
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Settlement date: | Dec. 6
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.65%
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Cusip: | 48134RTH1
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