By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – JPMorgan Chase Financial Co. LLC priced $15.23 million of contingent income autocallable securities due Oct. 3, 2019 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the downside threshold level, 80% of its initial level, on a quarterly determination date, the notes will pay a contingent payment at an annualized rate of 10.4%.
If the index closes at or above its initial level on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
If the index finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
The agent is J.P. Morgan Securities LLC.
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: | $15,225,000
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Maturity: | Oct. 3, 2019
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Contingent payment: | 10.4% annualized, payable quarterly if index closes at or above downside threshold level on determination date for that quarter
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Price: | Par of $10.00
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Payout at maturity: | Par plus contingent coupon if index finishes at or above downside threshold; otherwise full exposure to any losses
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Call: | At par plus contingent payment if index closes at or above initial level on any determination date
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Initial index level: | 138.38
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Downside threshold: | 110.704, 80% of initial level
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Pricing date: | Sept. 29
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Settlement date: | Oct. 4
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Agents: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 46647M7E7
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