By Wendy Van Sickle
Columbus, Ohio, Jan. 10 – JPMorgan Chase Financial Co. LLC priced $2.81 million of autocallable yield notes due July 12, 2019 linked to the common stocks Tapestry, Inc., Netflix, Inc. and AT&T 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 monthly coupon at an annual rate of 7.15%.
After six months, the notes will be called at par if each stock closes at or above its call level on any monthly review date. The call level will be 95% of the initial level initially, stepping down to 90% on the eighth review date and to 85% on the 13th review date.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 50% trigger value, in which case investors will lose 1% for each 1% decline of the least performing stock.
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 yield notes
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Underlying stocks: | Tapestry, Inc., Netflix, Inc. and AT&T Inc.
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Amount: | $2.81 million
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Maturity: | July 12, 2019
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Coupon: | 7.15%, payable monthly
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Price: | Par
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Payout at maturity: | Par plus the final coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of least performing stock
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Call: | At par if each stock closes at or above call level on any monthly review date; call level is 95% of initial level initially, stepping down to 90% on the eighth review date and to 85% on the 13th review date
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Initial levels: | $45.41 for Tapestry, $209.99 for Netflix, $38.14 for AT&T
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Trigger levels: | $22.705for Tapestry, $104.995 for Netflix, $19.07 for AT&T; 50% of initial levels
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Pricing date: | Jan. 8
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Settlement date: | Jan. 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.75%
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Cusip: | 48129HL88
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