By Wendy Van Sickle
Columbus, Ohio, Jan. 15 – JPMorgan Chase Financial Co. LLC priced $1.5 million of autocallable contingent interest notes due Jan. 19, 2022 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, 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 semiannual coupon at an annual rate of 6% if each index closes at or above its coupon barrier level, 54.5% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final one.
The payout at maturity will be par unless any index finishes below its 54.5% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing 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 notes
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Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
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Amount: | $1.5 million
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Maturity: | Jan. 19, 2022
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Coupon: | 6% annualized, payable semiannually if each underlying index closes at or above coupon barrier level on review date for that period
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Price: | Par
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Payout at maturity: | Par plus final coupon unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index from initial level
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Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than final one
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Initial levels: | 2,596.26 for S&P, 1,447.385 for Russell and 23,995.95 for Dow
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Coupon/ trigger levels: | 1,414.961 for S&P, 788.8248 for Russell and 13,077.7928 for Dow; 54.5% of initial levels
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Pricing date: | Jan. 11
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Settlement date: | Jan. 18
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Agent: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48130WRY9
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