By Kiku Steinfeld
Chicago, May 14 – JPMorgan Chase Financial Co. LLC priced $3.05 million of autocallable contingent interest notes due July 28, 2022 linked to the common stock of ViacomCBS Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the stock closes at or above the trigger price – 61% of the initial share price – on a monthly review date, the issuer will pay a contingent coupon for that month at a rate of 14.35% per year. Otherwise, no coupon will be paid that month.
If the shares close at or above the initial price on any monthly review date other than the first, second, third, fourth, fifth and final dates, the notes will be called at par plus the contingent coupon.
If the notes are not called and shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
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: | ViacomCBS Inc.
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Amount: | $3,047,000
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Maturity: | July 28, 2022
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Coupon: | 14.35%, payable each month that stock closes at or above trigger price on review date for that month
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Price: | Par of $1,000
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Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger price; otherwise, par plus stock return
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Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any monthly review date other than first, second, third, fourth, fifth and final dates
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Initial price: | $41.71
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Trigger price: | $25.4431, 61% of initial price
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Pricing date: | April 23
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Settlement date: | April 28
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48132TWH5
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