By Sarah Lizee
Olympia, Wash., May 12 – JPMorgan Chase Financial Co. LLC priced $1.04 million of autocallable contingent interest notes due May 11, 2023 linked to the Cisco Systems, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.1% if the lesser performing 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 the lesser performing 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 plus the coupon unless the lesser performing stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the lesser 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 assets: | Cisco Systems, Inc. and Microsoft Corp.
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| Amount: | $1.04 million
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| Maturity: | May 11, 2023
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| Coupon: | 10.1% annualized, payable quarterly if lesser performing stock closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the lesser performing stock finishes below its trigger level, in which case investors will be fully exposed to any losses of lesser performing stock
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| Call: | At par plus contingent coupon if lesser performing stock closes at or above initial level on any review date other than the first and final dates
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| Initial levels: | $42.99 for Cisco, $184.68 for Microsoft
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| Coupon barrier levels: | $25.794 for Cisco, $110.808 for Microsoft, 60% of initial level
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| Trigger levels: | $25.794 for Cisco, $110.808 for Microsoft, 60% of initial level
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| Pricing date: | May 8
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| Settlement date: | May 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132K5X9
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