New York, May 25 – JPMorgan Chase Financial Co. LLC priced $2.75 million of callable contingent interest notes due Jan. 24, 2024 linked to the common stock of ON Semiconductor Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon if the stock closes at or above the coupon barrier price, 55% of the initial price, on the valuation date for that period. The first two coupons, if payable, will pay at a rate of $37.50 per $1,000 principal amount. The final, if payable, will be $25 per note.
The securities may be called at par on any quarterly determination date.
If the stock finishes at or above its 55% downside threshold, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% that the stock declines from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Callable contingent interest notes
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Underlying stock: | ON Semiconductor Corp.
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Amount: | $2.75 million
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Maturity: | Jan. 24, 2024
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Coupon: | Payable quarterly if closing price of shares is greater than or equal to coupon barrier price on valuation date for that period; first two coupons will pay $37.50 per note with the final coupon worth $25
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Price: | Par
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Payout at maturity: | If stock finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that stock declines from initial level
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Call option: | At par on any quarterly determination date
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Initial level: | $84.36
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Downside threshold: | $46.398, 55% of initial level
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Pricing date: | May 19
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Settlement date: | May 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.6%
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Cusip: | 48133WZP6
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