By Sarah Lizee
Olympia, Wash., June 26 – JPMorgan Chase Financial Co. LLC priced $3.97 million of autocallable contingent interest notes due June 22, 2023 linked to the Southwest Airlines Co. and Starbucks Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 14.15% if the lesser performing stock closes at or above its 50% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if the lesser performing stock closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par plus the coupon unless the lesser performing stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the lesser performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | Southwest Airlines Co. and Starbucks Corp.
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| Amount: | $3,968,000
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| Maturity: | June 22, 2023
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| Coupon: | 14.15% annualized, payable monthly if lesser performing stock closes at or above coupon barrier on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the lesser performing stock finishes below its trigger level, in which case investors will be fully exposed to any losses of lesser performing stock
|
| Call: | After six months, at par plus the contingent coupon if the lesser performing stock closes at or above its initial level on any quarterly review date after six months
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| Initial levels: | $34.55 for Southwest, $75.40 for Starbucks
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| Coupon barrier levels: | $17.275 for Southwest, $37.70 for Starbucks, 50% of initial level
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| Trigger levels: | $17.275 for Southwest, $37.70 for Starbucks, 50% of initial level
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| Pricing date: | June 19
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| Settlement date: | June 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48132MGV7
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