By Wendy Van Sickle
Columbus, Ohio, July 14 – JPMorgan Chase Financial Co. LLC priced $2.29 million of contingent income autocallable securities due Jan. 8, 2020 linked to the Financial Select Sector 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.
The notes will pay a contingent quarterly coupon at an annualized rate of 9% if the lesser performing index closes at or above its coupon barrier, 70% of its initial level, on a quarterly determination date.
The notes will be called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus the final contingent coupon unless the lesser performing index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
J.P. Morgan Securities LLC is the agent, with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Euro Stoxx Banks and Financial Select Sector
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| Amount: | $2,291,000
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| Maturity: | Jan. 8, 2020
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| Contingent coupon: | 9% per year, payable quarterly if lesser performing index closes at or above its coupon barrier on quarterly determination date
|
| Price: | Par
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| Payout at maturity: | Par plus the final contingent coupon unless lesser performing index finishes below the downside threshold, in which case 1% loss for each 1% decline of lesser performing index from initial level
|
| Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date
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| Initial level: | 135.24 for Stoxx Banks, 307.67 for Financial Select
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| Coupon barrier level: | 91.287 for Stoxx Banks, 207.67725 for Financial Select, 67.5% of initial levels
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| Downside threshold: | 91.287 for Stoxx Banks, 207.67725 for Financial Select, 67.5% of initial levels
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| Pricing date: | July 3
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| Settlement date: | July 7
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| Agent: | J.P. Morgan Securities LLC, with Morgan Stanley Wealth Management handling distribution
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| Fees: | 2.5%
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| Cusip: | 46647MTB9
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