By Wendy Van Sickle
Columbus, Ohio, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $877,000 of autocallable contingent interest notes due Aug. 19, 2022 linked to the lesser performing of the common stock of 3M Co. and the common stock of Caterpillar 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 10.15% per year if each stock closes at or above its trigger value, 60% of its initial level, 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 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, 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying stocks: | 3M Co. (Symbol: MMM) and Caterpillar Inc. (Symbol: CAT)
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Amount: | $877,000
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Maturity: | Aug. 19, 2022
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Coupon: | 10.15% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
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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
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Call: | Automatically at par plus contingent coupon if each stock closes at or above initial share price on any quarterly review date other than final one
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Initial share prices: | $161.50 for 3M and $116.43 for Caterpillar
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Trigger values: | $96.90 for 3M and $69.858 for Caterpillar, or 60% of initial levels
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Pricing date: | Aug. 16
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Settlement date: | Aug. 21
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48132CV83
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