By Taylor Fox
New York, Nov. 10 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due April 18, 2023 linked to the common stocks of Goldman Sachs Group, Inc. and Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 8% if both stocks close above the 70% coupon barrier level on the relevant review date.
If both stocks close above 90% of their initial levels on any quarterly review date starting Jan. 13, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus any contingent interest payment if the final level of each stock closes at or above its final barrier, 70% of its initial price.
Otherwise, investor will be full exposed to the decline of the worst performing stock.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying stocks: | Goldman Sachs Group, Inc. and Morgan Stanley
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Amount: | $500,000
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Maturity: | April 18, 2023
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Coupon: | 8% annual rate, payable quarterly if each stock closes at or above coupon barrier on review date for that period
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Price: | Par
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Payout at maturity: | Par plus interest payment if each stock finishes above final barrier; otherwise full exposure to losses of worst performing stock
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Call: | At par plus interest payment if each stock finishes above 90% of initial level on quarterly review date starting Jan. 13
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Initial prices: | $210.81 for Goldman and $50.44 for Morgan Stanley
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Coupon barrier prices: | $147.567 for Goldman and $35.308 for Morgan Stanley, 70% of initial price
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Final barrier prices: | $147.567 for Goldman and $35.308 for Morgan Stanley, 70% of initial price
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Pricing date: | Oct. 13
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Settlement date: | Oct. 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.25%
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Cusip: | 48132PA79
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