New Issue: JPMorgan sells $1 million 10% yield notes on three banking stocks

By William Gullotti

Buffalo, N.Y., July 20 – JPMorgan Chase Financial Co. LLC priced $1 million of 10% yield notes due July 18, 2024 linked to the worst performing of the Huntington Bancshares Inc., PNC Financial Services Group, Inc. and Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The interest rate will be 10% per year, and interest will be payable monthly.

The payout at maturity will be par unless any stock finishes below its trigger level, 50% of its initial level. Otherwise, investors will lose 1% for every 1% that the least-performing stock declines below its initial level.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Yield notes
Underlying stocks:	Huntington Bancshares Inc., PNC Financial Services Group, Inc., Citigroup Inc.
Amount:	$1,001,000
Maturity:	July 18, 2024
Coupon:	10%, payable monthly
Price:	Par
Payout at maturity:	Par unless any stock finishes below trigger level, in which case 1% loss for every 1% decline of worst performing stock from initial level
Initial stock levels:	$150.96 for PNC, $44.14 for Citi, $11.89 for Huntington
Trigger levels:	$75.48 for PNC, $22.07 for Citi, $5.945 for Huntington; 50% of initial levels
Strike date:	July 14
Pricing date:	July 15
Settlement date:	July 20
Agent:	J.P. Morgan Securities LLC
Fees:	0.4%
Cusip:	48133LST0

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