By Angela McDaniels
Tacoma, Wash., July 30 – JPMorgan Chase Financial Co. LLC priced $580,000 of autocallable contingent interest notes due July 29, 2021 linked to the lesser performing of the class C common stock of Alphabet Inc. and the common stock of Netflix, 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 10% per year if each stock closes at or above its interest barrier, 65% 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, 60% of its initial share price, 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.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Alphabet Inc. (Symbol: GOOG) and Netflix, Inc. (Symbol: NFLX)
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| Amount: | $580,000
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| Maturity: | July 29, 2021
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| Coupon: | 10% per year, payable quarterly if each stock closes at or above interest barrier on review date for that quarter
|
| Price: | Par
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| 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
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| Initial share prices: | $1,132.12 for Alphabet and $326.46 for Netflix (closing prices on July 25)
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| Interest barriers: | $735.878 for Alphabet and $212.199 for Netflix, or 65 of initial share prices
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| Trigger values: | $679.272 for Alphabet and $195.867 for Netflix, or 60% of initial share prices
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| Pricing date: | July 26
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| Settlement date: | July 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.6%
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| Cusip: | 48132CE41
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