By Susanna Moon
Chicago, May 22 – JPMorgan Chase Financial Co. LLC priced $4.09 million of autocallable contingent interest notes due May 16, 2022 linked to the least performing of the common stocks of Bristol-Myers Squibb Co., General Mills, Inc. and Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.12% if each stock closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any 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 stock: | Bristol-Myers Squibb Co. (Symbol: BMY), General Mills, Inc. (Symbol: GIS) and Walgreens Boots Alliance, Inc. (Symbol: WBA)
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Amount: | $4,088,000
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Maturity: | May 16, 2022
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Coupon: | 11.12% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any stock closes below 60% trigger, 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 review date other than first and final dates
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Initial levels: | $51.86 for Bristol-Myers, $42.66 for General Mills and $64.09 for Walgreens
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Trigger levels: | $31.116 for Bristol-Myers, $25.596 for General Mills and $38.454 for Walgreens, 60% of initial levels
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Pricing date: | May 11
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Settlement date: | May 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.67752%
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Cusip: | 48129MSY3
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