By Kiku Steinfeld
Chicago, Nov. 7 – JPMorgan Chase Financial Co. LLC priced $200,000 of autocallable contingent interest notes due April 15, 2021 linked to the common stock of Schlumberger NV, according to a 424B2 filing with the Securities and Exchange Commission.
If Schlumberger shares close at or above the trigger level, 60% of the initial share price, on a quarterly review date, the notes will pay a contingent quarterly coupon plus any previously unpaid coupons at an annualized rate of 11.4%.
The notes will be called at par plus the contingent coupon and any previously unpaid coupons if Schlumberger shares close at or above the initial share price on any quarterly review date other than the final review date.
If the notes have not been called and the final share price is greater than or equal to the trigger level, the payout at maturity will be par plus the final contingent coupon and any previously unpaid coupons. Otherwise, investors will lose 1% for every 1% that the final share price is less than the 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 stock: | Schlumberger NV
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| Amount: | $200,000
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| Maturity: | April 15, 2021
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| Coupon: | 11.4% per year, payable quarterly, plus any previously unpaid coupons, if Schlumberger shares close at or above trigger level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to trigger level, par plus final contingent coupon and any previously unpaid coupons; otherwise, 1% loss for every 1% that final share price is less than initial share price
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| Call: | At par plus contingent coupon and any previously unpaid coupons if Schlumberger shares close at or above initial share price on any quarterly review date other than final review date
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| Initial share price: | $32.48
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| Interest barrier/trigger level: | $19.488, 60% of initial share price
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132FYJ9
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