By William Gullotti
Buffalo, N.Y., June 17 – JPMorgan Chase Financial Co. LLC priced $4.38 million of autocallable contingent interest notes due July 14, 2022 linked to the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a monthly contingent interest payment at an annual rate of 10.4% if the stock closes above its 71% coupon barrier level on the relevant review date.
If the stock closes above its initial level on any quarterly review date after six months, 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 due if the final level of the stock closes at or above its trigger price, 71% of its initial price.
Otherwise, investors will be fully exposed to the decline of the 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 stock: | Nvidia Corp.
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Amount: | $4,384,000
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Maturity: | July 14, 2022
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Coupon: | 10.4% annual rate, payable monthly if 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 stock finishes above trigger price; otherwise, full exposure to losses of stock
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Call: | At par plus interest payment if stock finishes above initial level on quarterly review date after six months
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Initial level: | $713.01
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Coupon barrier level: | $506.2371; 71% of initial level
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Trigger level: | $506.2371; 71% of initial level
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Pricing date: | June 11
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Settlement date: | June 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48132ULV3
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