By William Gullotti
Buffalo, N.Y., July 2 – JPMorgan Chase Financial Co. LLC priced $16.85 million of trigger autocallable contingent yield notes due July 3, 2024 linked to the Euro Stoxx 50 index and the Euro Stoxx Banks index, 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 the rate of 7% per year if each index closes at or above the coupon barrier, 70% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par plus coupon if each index closes at or above the initial level on any quarterly observation date after six months.
If the notes are not called and the final level of each index is greater than the coupon barrier, the payout at maturity will be par plus the final coupon.
If any index declines below the coupon barrier, but each index finishes at or above the 60% threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx Banks index, Euro Stoxx 50 index
|
| Amount: | $16,847,860
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| Maturity: | July 3, 2024
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| Contingent coupon: | 7% annual rate, payable quarterly if each index closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon if each index finishes at or above the coupon barrier; if any index falls below the coupon barrier but all finish at or above the threshold level, par; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
|
| Call: | Automatically at par plus coupon if index closes at or above initial level on any quarterly observation date after six months
|
| Initial price: | 93.96 for Stoxx Banks, 4,089.91 for Stoxx 50
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| Coupon barrier: | 65.77 for Stoxx Banks, 2,862.94 for Stoxx 50; 70% of initial price
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| Threshold level | 56.38 for Stoxx Banks, 2,453.95 for Stoxx 50; 60% of initial price
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| Pricing date: | June 28
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| Settlement date: | June 30
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2%
|
| Cusip: | 46652Y570
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