By Wendy Van Sickle
Columbus, Ohio, Nov. 14 – JPMorgan Chase Financial Co. LLC priced $1.4 million of autocallable contingent interest notes due Nov. 9, 2021 linked to the least performing of the common stocks of Walt Disney Co., Exxon Mobil Corp. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9.5% per year plus any previously unpaid contingent coupons if each stock closes at or above its trigger value, 60% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.
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 stocks: | Walt Disney Co., Exxon Mobil Corp. and Apple Inc.
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Amount: | $1.4 million
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Maturity: | Nov. 9, 2021
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Coupon: | 9.5% per year plus any previously unpaid contingent coupons, payable quarterly if each stock closes at or above trigger value 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 trigger value, in which case 1% loss for every 1% that least-performing stock finishes below initial share price
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Call: | Automatically at par plus contingent coupon if each stock closes at or above initial share price on any quarterly review date other than final one
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Initial share prices: | $132.92 for Disney, $71.67 for Exxon and $257.50 for Apple
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Trigger values: | $79.752 for Disney, $43.002 for Exxon and $154.50 for Apple, or 60% of initial share prices
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Pricing date: | Nov. 4
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Settlement date: | Nov. 7
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.35%
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Cusip: | 48132FG59
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