By Angela McDaniels
Tacoma, Wash., Nov. 18 – JPMorgan Chase Financial Co. LLC priced $6.52 million of autocallable contingent interest notes due Nov. 17, 2022 linked to the least performing of the common stocks of Oracle Corp., Microsoft Corp. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above its trigger value, 60% of its initial share price, on a monthly review date, the notes will pay a contingent coupon that month at the rate of 9.15% per year plus any previously unpaid contingent coupons.
The notes will be automatically called at par if each stock closes at or above its initial share price on any monthly review date other than the first through fifth and final review dates.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.
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: | Autocallable contingent interest notes
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Underlying stocks: | Oracle Corp. (Symbol: ORCL), Microsoft Corp. (Symbol: MSFT) and Intel Corp. (Symbol: INTC)
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Amount: | $6.52 million
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Maturity: | Nov. 17, 2022
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Coupon: | 9.15% per year plus any previously unpaid contingent coupons, payable monthly if each stock closes at or above trigger value on review date for that month
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below trigger value, in which case 1% loss for every 1% that least-performing stock finishes below initial share price
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Call: | Automatically at par if each stock closes at or above initial share price on any quarterly review date other than first through fifth and final ones
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Initial share prices: | $56.09 for Oracle, $148.06 for Microsoft and $57.81 for Intel
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Trigger values: | $33.654 for Oracle, $88.836 for Microsoft and $34.686 for Intel, or 60% of initial share prices
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Pricing date: | Nov. 14
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Settlement date: | Nov. 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.48%
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Cusip: | 48132FE85
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