By Angela McDaniels
Tacoma, Wash., Nov. 1 – JPMorgan Chase Financial Co. LLC priced $940,000 of autocallable contingent interest notes due May 5, 2022 linked to the least performing of the class A common stock of Alphabet Inc., the common stock of Monster Beverage Corp. and the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.8% per year if each stock closes at or above its trigger value, 70% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its call value, 90% of 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
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Alphabet Inc. (Symbol: GOOGL), Monster Beverage Corp. (Symbol: MNST) and Wells Fargo & Co. (Symbol: WFC)
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| Amount: | $940,000
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| Maturity: | May 5, 2022
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| Coupon: | 10.8% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| 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
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above call value, 90% of initial share price, on any quarterly review date other than final one
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| Initial share prices: | $1,260.70 for Alphabet, $56.15 for Monster and $52.03 for Wells Fargo
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| Trigger values: | $882.49 for Alphabet, $39.305 for Monster and $36.421 for Wells Fargo, or 70% of initial share prices
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 48132F3L8
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