By William Gullotti
Buffalo, N.Y., Sept. 9 – JPMorgan Chase Financial Co. LLC sold $600,000 of autocallable contingent interest notes due June 14, 2024 linked to the performance of the stocks of Bank of America Corp. and United Airlines Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 19% if each stock closes at or above its interest barrier level, 80% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the coupon on monthly call date other than the first through third and final dates.
The payout at maturity will be par plus any final coupon due unless any stock finishes below the 75% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
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: | Bank of America Corp., United Airlines Holdings, Inc.
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Amount: | $600,000
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Maturity: | June 14, 2024
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Coupon: | 19% annualized, payable monthly if each underlying stock closes at or above interest barrier level on review date for that month
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Price: | Par
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Payout at maturity: | Par plus any final coupon due unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of worst performing stock from initial level
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Call option: | Automatically at par plus coupon on any monthly call date other than the first through third and final dates
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Initial levels: | $40.67 for BofA, $46.45 for United
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Interest barriers: | $32.536 for BofA, $37.16 for United; 80% of initial levels
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Trigger values: | $30.5025 for BofA, $34.8375 for United; 75% of initial levels
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Strike date: | Aug. 9
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Pricing date: | Aug. 10
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Settlement date: | Aug. 13
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.6%
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Cusip: | 48132WBL2
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