By Kiku Steinfeld
Chicago, Aug. 7 – JPMorgan Chase Financial Co. LLC priced $1.8 million of autocallable contingent interest notes due July 24, 2023 linked to the least performing of the common stocks of Bristol-Myers Squibb Co., Eli Lilly and Co. and Gilead Sciences, Inc., 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 8.15% per year if each stock closes at or above its interest barrier, 50% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly review date, starting July 20, 2020.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger level, 50% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Bristol-Myers Squibb Co., Eli Lilly and Co. and Gilead Sciences, Inc.
|
| Amount: | $1,800,000
|
| Maturity: | July 24, 2023
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| Coupon: | 8.15% per year, payable quarterly if each stock closes at or above interest barrier value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of least-performing stock from initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any review date starting July 20, 2020
|
| Initial share prices: | $43.33 for Bristol-Myers Squibb, $106.79 for Lilly and $65.04 for Gilead
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| Coupon barriers: | $21.665 for Bristol-Myers Squibb, $53.395 for Lilly and $32.52 for Gilead; 50% of initial share prices
|
| Trigger levels: | $21.665 for Bristol-Myers Squibb, $53.395 for Lilly and $32.52 for Gilead; 50% of initial share prices
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| Pricing date: | July 19
|
| Settlement date: | July 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48132C4W0
|
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