By Sarah Lizee
Olympia, Wash., June 2 – JPMorgan Chase Financial Co. LLC priced $1.57 million of autocallable contingent interest notes due Aug. 31, 2021 linked to Raytheon Technologies Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.75% if the stock closes at or above its 65% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par plus the coupon unless the stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses.
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: | Raytheon Technologies Corp.
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Amount: | $1.57 million
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Maturity: | Aug. 31, 2021
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Coupon: | 12.75% annualized, payable quarterly if 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 stock finishes below its trigger level, in which case investors will be fully exposed to any losses
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Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly review date after six months
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Initial level: | $64.47
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Coupon barrier level: | $41.9055, 65% of initial level
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Trigger level: | $41.9055, 65% of initial level
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Pricing date: | May 26
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Settlement date: | May 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48132KU37
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