By William Gullotti
Buffalo, N.Y., July 21 – JPMorgan Chase Financial Co. LLC priced $5.54 million of autocallable contingent interest review notes due July 12, 2028 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 monthly interest at an annual rate of 10% if the index closes at or above its 50% interest barrier on the related review date.
The notes will be called at par plus the coupon plus an additional 5.75% annualized call premium if the index closes at or above its initial level on any quarterly review date after one year.
If the notes are not called and the index finishes at or above its 50% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the index 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 review notes
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Underlying index: | MerQube US Tech+ Vol Advantage index
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Amount: | $5,536,000
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Maturity: | July 12, 2028
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Coupon: | 10% annual rate, payable monthly if the index closes at or above its interest barrier on the related monthly review date
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Price: | Par
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Payout at maturity: | If index finishes at or above trigger level, par plus final coupon; otherwise, full exposure to index decline from initial level
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Call: | Automatically at par plus the coupon plus an additional 5.75% annualized call premium if the index closes at or above its initial level on any quarterly review date after one year
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Initial level: | 8,456.0
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Interest barrier: | 4,228.0; 50% of initial level
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Trigger level: | 4,228.0; 50% of initial level
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Pricing date: | July 7
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Settlement date: | July 12
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48133X4F0
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