By William Gullotti
Buffalo, N.Y., May 2 – JPMorgan Chase Financial Co. LLC sold $1.6 million of autocallable contingent interest notes due April 30, 2026 linked to the performance of the stocks of Tesla, Inc., Nvidia Corp. and Alphabet 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 8.75% if each stock closes at or above its interest barrier level, 85% of its initial level, on the corresponding review date.
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 after one year.
If the notes are not called and each stock finishes at or above its interest barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will receive par.
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: | Tesla, Inc., Nvidia Corp., Alphabet Inc.
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Amount: | $1,596,000
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Maturity: | April 30, 2026
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Coupon: | 8.75% annualized, payable quarterly if each underlying stock closes at or above interest barrier level on relevant observation date
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Price: | Par
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Payout at maturity: | If each stock finishes at or above interest barrier, par plus the final coupon; otherwise, par
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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 after one year
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Initial levels: | $160.67 for Tesla, $262.41 for Nvidia, $103.85 for Alphabet
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Interest barriers: | $136.5695 for Tesla, $223.0485 for Nvidia, $88.2725 for Alphabet; 85% of initial levels
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Pricing date: | April 25
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Settlement date: | April 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48133VPJ3
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