By William Gullotti
Buffalo, N.Y., March 19 – JPMorgan Chase Financial Co. LLC sold $1.62 million of autocallable contingent interest notes due Nov. 12, 2025 linked to the performance of the stocks of Tesla, Inc., Oracle Corp. and Palo Alto Networks, 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 monthly coupon at an annual rate of 27.6% if each stock closes at or above its interest barrier level, 75% 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 six months.
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.
If the worst performer finishes below its interest barrier but at or above the 65% trigger value, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
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., Oracle Corp., Palo Alto Networks, Inc.
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| Amount: | $1.62 million
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| Maturity: | Nov. 12, 2025
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| Coupon: | 27.6% annualized, payable monthly 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; if worst performer finishes below interest barrier but at or above trigger value, par; otherwise, full exposure to decline of worst performer from initial level
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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 six months
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| Initial levels: | $185.10 for Tesla, $115.30 for Oracle, $341.49 for Palo Alto
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| Interest barriers: | $138.825 for Tesla, $86.475 for Oracle, $256.1175 for Palo Alto; 75% of initial levels
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| Trigger values: | $120.315 for Tesla, $74.945 for Oracle, $221.9685 for Palo Alto; 65% of initial levels
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| Pricing date: | Feb. 6
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| Settlement date: | Feb. 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48134T3S1
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