By William Gullotti
Buffalo, N.Y., June 14 – JPMorgan Chase Financial Co. LLC sold $1 million of autocallable contingent interest notes due June 8, 2027 linked to the performance of the stocks of Honeywell International Inc., Walgreens Boots Alliance, Inc. and NIKE, Inc., 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 10% if each stock closes at or above its interest barrier level, 50% of its initial level, on the corresponding review date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is 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 call date.
If the notes are not called and each stock finishes at or above its 0% trigger value, the payout will be par plus all unpaid coupons.
Otherwise, 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Honeywell International Inc., Walgreens Boots Alliance, Inc., NIKE, Inc.
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| Amount: | $1 million
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| Maturity: | June 8, 2027
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| Coupon: | 10% annualized, payable quarterly if each underlying stock closes at or above interest barrier level on relevant observation date; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger value, par plus all unpaid coupons; otherwise, full exposure to decline of worst performer from initial level
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| Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call date
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| Initial levels: | $194.82 for Honeywell, $43.14 for Walgreens, $120.95 for NIKE
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| Interest barriers: | $97.41 for Honeywell, $21.57 for Walgreens, $60.475 for NIKE; 50% of initial levels
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| Trigger values: | $97.41 for Honeywell, $21.57 for Walgreens, $60.475 for NIKE; 50% of initial levels
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| Strike date: | June 3
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| Pricing date: | June 8
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| Settlement date: | June 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48133GWW9
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