By Kiku Steinfeld
Chicago, Nov. 26 – JPMorgan Chase Financial Co. LLC priced $400,000 bearish autocallable contingent interest notes due Nov. 5, 2020 linked to the best performing of the common stocks of Intel Corp, Apple Inc. and Lam Research Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each stock closes at or below its interest barrier level– 140% of its initial strike price – on any quarterly review date, the notes will pay a contingent quarterly coupon at the annual rate of 12.65% and any previously unpaid contingent interest payments for prior review dates.
If each stock closes at or below its initial strike price on any quarterly review date other than the final one, the notes will be called at par plus the coupon and any previously unpaid contingent interest payments for prior review dates.
The payout at maturity will be par plus the final coupon and any previously unpaid contingent interest payments for prior review dates unless any stock finishes above its 140% trigger level, in which case investors will lose 1% for each 1% gain of the best performing stock from its initial level.
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: | Bearish autocallable contingent interest notes
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| Underlying stocks: | Intel Corp, Apple Inc., Lam Research Corp.
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| Amount: | $400,000
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| Maturity: | Nov. 5, 2020
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| Coupon: | 12.65% per year, payable quarterly if each stock closes at or below interest barrier level on any quarterly review date, plus any unpaid contingent interest payments for prior review dates
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| Price: | Par
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| Payout at maturity: | Par plus final coupon and any previously unpaid contingent interest payments for prior review dates unless any stock finishes above trigger level, in which case 1% loss for each 1% gain of best performing stock from initial level
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| Call: | Automatically at par plus contingent interest payment and any previously unpaid contingent interest payments for prior review dates if each stock closes at or below initial strike price on any quarterly review date other than final one
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| Initial strike prices: | $56.53 for Intel, $248.76 for Apple, $271.04 for Lam Research
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| Interest barrier/trigger prices: | $79.142 for Intel, $348.264 for Apple, $379.456 for Lam Research, 140% of initial levels
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| Pricing date: | Nov. 1
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| Settlement date: | Nov. 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48132FF76
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