By Kiku Steinfeld
Chicago, Dec.8 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due Nov. 25, 2022 linked to the common stock of Tesla Motors, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If Tesla stock closes at or above its coupon trigger price – 60% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at the rate of 25.25% per year. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on any quarterly review date other than the first and final dates, the notes will be called at par plus the contingent coupon.
If the notes are not called and Tesla shares finish at or above its 50% trigger price, the payout at maturity will be par plus any final contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
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: | Tesla Motors, Inc. (Symbol: TSLA)
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Amount: | $250,000
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Maturity: | Nov. 25, 2022
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Coupon: | 25.25% per year, payable quarterly if stock closes at or above coupon trigger price on review date for that quarter
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Price: | Par of $1,000
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Payout at maturity: | Par plus any final contingent coupon if Tesla shares finish at or above trigger price; otherwise, par plus stock return
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Call: | Automatically at par plus contingent coupon if Tesla shares close at or above initial price on any quarterly review date other than first and final dates
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Initial share price: | $499.27
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Coupon trigger price: | $299.562, 60% of initial price
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Trigger price: | $249.635, 50% of initial price
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Pricing date: | Nov. 23
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Settlement date: | Nov. 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48132P3V4
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