By Susanna Moon
Chicago, March 21 – JPMorgan Chase Financial Co. LLC priced $4.62 million of contingent income autocallable securities due March 20, 2019 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.6% if index closes at or above the 65% downside threshold on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above the initial price on any determination date other than the final one.
The payout at maturity will be par plus the final coupon unless the index finishes below the 65% downside threshold, in which case investors be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management as distributor.
The notes are guaranteed by JPMorgan Chase & Co.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Contingent income autocallable securities
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Underlying index: | Euro Stoxx Banks
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Amount: | $4,618,000
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Maturity: | March 20, 2019
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Coupon: | 11.6% per year, payable quarterly if Delta shares close at or above downside threshold on observation date for that quarter
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Price: | Par
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Payout at maturity: | If index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
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Call: | At par plus contingent coupon if index closes at or above initial level on any determination date other than final date
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Initial level: | 124.17
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Downside threshold: | 80.7105, 65% of initial level
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Pricing date: | March 15
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Settlement date: | March 20
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Agent: | J.P. Morgan Securities LLC
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Distributer: | Morgan Stanley Wealth Management
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Fees: | 1.5%
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Cusip: | 46646QMF9
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