By Sarah Lizee
Olympia, Wash., March 1 – JPMorgan Chase Financial Co. LLC priced $1.5 million of autocallable contingent interest notes due Feb. 17, 2022 linked to lesser performing of the common stocks of CVS Health Corp. and Walgreens Boots Alliance, Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 9.5% 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 called at par if each stock closes at or above its initial share price on any review date other than the final review date.
The payout at maturity will be par unless either stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the lesser-performing stock.
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: | CVS Health Corp. and Walgreens Boots Alliance, Inc.
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Amount: | $1,498,000
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Maturity: | Feb. 17, 2022
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Coupon: | 9.5% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of lesser-performing stock from initial share price
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Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date other than the final review date
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Initial share prices: | $58.50 for CVS and $71.37 for Walgreens
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Trigger values: | $40.95 for CVS and $49.959 for Walgreens; 70% of initial share prices
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Pricing date: | Feb. 27
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Settlement date: | March 4
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.875%
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Cusip: | 48130W2K6
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