By Wendy Van Sickle
Columbus, Ohio, June 5 – JPMorgan Chase Financial Co. LLC priced $1 million autocallable contingent interest notes due Dec. 2, 2022 linked to the least performing of Morgan Stanley, Bank of America Corp. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 17.25% per year if each stock closes at or above its coupon barrier, 65% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly autocall review date after six months.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger value, 65% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock finishes below 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: | Autocallable contingent interest notes
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| Underlying stocks: | Morgan Stanley, Bank of America Corp. and Goldman Sachs Group, Inc.
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| Amount: | $1 million
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| Maturity: | Dec. 2, 2022
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| Coupon: | 17.25% per year, payable quarterly if each stock closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger value, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial level
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly autocall review date after six months
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| Initial levels: | $44.20 for Morgan Stanley, $24.12 for BofA, $196.49 for Goldman
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| Coupon barriers: | $28.73 for Morgan Stanley, $15.678 for BofA, $127.7185 for Goldman, or 65% of initial levels
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| Trigger values: | $28.73 for Morgan Stanley, $15.678 for BofA, $127.7185 for Goldman, or 65% of initial levels
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| Pricing date: | May 29
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| Settlement date: | June 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.125%
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| Cusip: | 48132MBN0
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