By Wendy Van Sickle
Columbus, Ohio, Nov. 2 – JPMorgan Chase Financial Co. LLC priced $9.01 million of autocallable contingent interest notes due Oct. 2, 2024 linked to the least performing of the common stocks of Zillow Group, Inc., Roku, Inc. and Moderna, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 16.25% if each stock closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call review date after six months.
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: | Zillow Group, Inc., Roku, Inc. and Moderna, Inc.
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Amount: | $9,011,000
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Maturity: | Oct. 2, 2024
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Coupon: | 16.25% annualized, payable monthly if each stock closes at or above 60% coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par unless any stock closes below 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 quarterly call review date after six months
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Initial levels: | $316.57 for Roku, $93.18 for Zillow and $340.88 for Moderna
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Trigger levels: | $189.942 for Roku, $55.908 for Zillow and $204.528 for Moderna, 60% of initial levels
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Pricing date: | Oct. 27
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Settlement date: | Oct. 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 48132YJD8
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