By Wendy Van Sickle
Columbus, Ohio, Aug. 2 – JPMorgan Chase Financial Co. LLC sold $255,000 of autocallable contingent interest notes due June 6, 2024 linked to the performance of the stocks of Freeport-McMoRan Inc. and Newmont Corp., 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 12.2% if each stock closes at or above its interest barrier level, 60% of its initial level, on the corresponding review date. Any previously unpaid contingent coupons will also be paid.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the final coupon, unless any stock finishes below the 60% 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Freeport-McMoRan Inc., Newmont Corp.
|
| Amount: | $255,000
|
| Maturity: | June 6, 2024
|
| Coupon: | 12.2% annualized, payable quarterly plus any previously unpaid contingent coupons if each underlying stock closes at or above interest barrier level on the corresponding review date
|
| Price: | Par
|
| 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
|
| Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call date other than final one
|
| Initial levels: | $43.34 for Freeport-McMoRan, $72.70 for Newmont
|
| Interest barriers: | $26.004 for Freeport-McMoRan, $43.62 for Newmont; 60% of initial levels
|
| Trigger values: | $26.004 for Freeport-McMoRan, $43.62 for Newmont; 60% of initial levels
|
| Pricing date: | June 3
|
| Settlement date: | June 8
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48132UKT9
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