By Wendy Van Sickle
Columbus, Ohio, May 22 – JPMorgan Chase Financial Co. LLC priced $5 million of autocallable contingent interest notes due May 21, 2021 linked to the lesser performing of the capital stock of Banco Santander, SA and the ordinary shares of Banco Bilbao Vizcaya Argentaria, SA, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon of 13.725% if each stock closes at or above its 60% coupon barrier on the first review date, Nov. 28, 2019, and another contingent coupon of 13.725% plus any unpaid contingent coupon for the first review date if the stocks close above their coupon barrier on the second review date, May 18, 2021.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on Nov. 28, 2019.
The payout at maturity will be par unless either stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | Banco Santander, SA and Banco Bilbao Vizcaya Argentaria, SA
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| Amount: | $5 million
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| Maturity: | May 21, 2021
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| Coupon: | Notes pay a contingent coupon of 13.725% if each stock closes at or above its 60% coupon barrier on first review date, Nov. 28, 2019, and another contingent coupon of 13.725% plus any unpaid contingent coupon for first review date if stocks close above coupon barriers on second review date, May 18, 2021
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| Price: | Par
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| Payout at maturity: | Par unless either stock closes below trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on Nov. 28, 2019
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| Initial levels: | €5.206 for Santander, €6.58 for BBVA
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| Coupon barrier/trigger levels: | €3.1236 for Santander, €3.948 for BBVA, 60% of initial levels
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| Pricing date: | May 18
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| Settlement date: | May 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48129MUT1
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