By William Gullotti
Buffalo, N.Y., Oct. 14 – JPMorgan Chase Financial Co. LLC priced $1.31 million of autocallable contingent interest notes due July 28, 2026 linked to the MerQube US Tech+ Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay contingent quarterly interest at an annual rate of 8.5% if the index closes at or above its 70% interest barrier on the related review date.
The notes will be called at par plus the coupon if the index closes at or above its initial level on any quarterly review date.
If the notes are not called and the index finishes at or above its interest barrier, the payout at maturity will be par plus the final coupon.
If the index finishes below its interest barrier but at or above the 60% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% of index decline 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 index: | MerQube US Tech+ Vol Advantage index
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Amount: | $1,305,000
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Maturity: | July 28, 2026
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Coupon: | 8.5% annual rate, payable quarterly if the index closes at or above its interest barrier on the related quarterly review date
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Price: | Par
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Payout at maturity: | If index finishes at or above interest barrier, par plus final coupon; if the index finishes below interest barrier but at or above trigger level, par; otherwise, full exposure to index decline from initial level
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Call: | Automatically at par plus the contingent interest payment if the index closes at or above its initial level on any quarterly review date
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Initial level: | 9,922.59
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Interest barrier: | 6,945.813; 70% of initial level
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Trigger level: | 5,953.554; 60% of initial level
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Pricing date: | July 23
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Settlement date: | July 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.55%
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Cusip: | 48132UD75
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