By Wendy Van Sickle
Columbus, Ohio, July 24 – JPMorgan Chase Financial Co. LLC priced $1.89 million of autocallable contingent interest notes due July 25, 2019 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.4% if each component closes at or above its 75% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each component closes at or above its initial level on any quarterly review other than the final date.
The payout at maturity will be par unless any component finishes below its 75% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing component.
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 assets: | S&P 500 index, Euro Stoxx 50 index and iShares MSCI Emerging Markets
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Amount: | $1 million
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Maturity: | July 25, 2019
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Coupon: | 8.4% annualized, payable each quarter that each underlying component closes at or above coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless any component falls below trigger level, in which case 1% loss for each 1% decline of worst performer
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Call: | At par plus contingent coupon if each component closes at or above initial level on any quarterly review date other than the final date
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Initial levels: | 2,473.45 for S&P, 3,499.49 for Stoxx and $43.66 for fund
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Coupon barrier/triggers: | 1,855.0875 for S&P, 2,624.6175 for Stoxx and $32.745 for fund; 75% of initial levels
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Pricing date: | July 20
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Settlement date: | July 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 46647MYW7
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