By Kiku Steinfeld
Chicago, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $1.32 million of autocallable contingent interest notes due Aug. 1, 2024 linked to the least performing of the common stocks of Ford Motor Co., Wells Fargo & Co. and PulteGroup, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.5% if each stock closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call review date after six months.
The payout at maturity will be par unless each stock finishes below its initial share price and any stock finishes below its 60% 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 stocks: | Ford Motor Co., Wells Fargo & Co. and PulteGroup, Inc.
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Amount: | $1,324,000
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Maturity: | Aug. 1, 2024
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Coupon: | 9.5% annualized, payable monthly if each stock closes at or above 60% coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par unless each stock finishes below initial share price and any stock finishes below 60% 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 level on any quarterly call review date after six months
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Initial levels: | $13.79 for Ford, $45.14 for Wells and $53.39 for Pulte
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Trigger levels: | $8.274 for Ford, $27.084 for Wells and $32.034 for Pulte; 60% of initial levels
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Pricing date: | July 27
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Settlement date: | July 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.5%
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Cusip: | 48132UYX5
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