By Angela McDaniels
Tacoma, Wash., Aug. 6 – JPMorgan Chase Financial Co. LLC priced $1.02 million of autocallable contingent interest notes due Aug. 4, 2022 linked to the lesser performing of the common stock of Splunk Inc. and the class A common stock of Square, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 17.7% per year 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 automatically called at par plus the contingent coupon if each stock closes at or above its call value, 90% of its initial share price, on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless either stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the lesser-performing stock finishes below its initial share price.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Splunk Inc. (Symbol: SPLK) and Square, Inc. (Symbol: SQ)
|
| Amount: | $1,019,000
|
| Maturity: | Aug. 4, 2022
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| Coupon: | 17.7% per year, payable quarterly if each stock closes at or above interest barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below trigger value, in which case 1% loss for every 1% that lesser-performing stock finishes below initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above call value, 90% of initial share price, on any quarterly review date other than final one
|
| Initial share prices: | $137.49 for Splunk and $80.49 for Square
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| Trigger values: | $96.243 for Splunk and $56.343 for Square, or 70% of initial share prices
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| Pricing date: | July 30
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| Settlement date: | Aug. 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
|
| Cusip: | 48132C6K4
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