By Wendy Van Sickle
Columbus, Ohio, July 21 – JPMorgan Chase Financial Co. LLC priced $5.25 million of autocallable contingent interest notes due July 24, 2019 linked to the least performing of the common stocks of Bank of Montreal, Royal Bank of Canada and Toronto-Dominion Bank, 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 8% if each stock closes above its 75% barrier level on a review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any monthly review date other than the first, second and final dates.
The payout at maturity will be par plus the final coupon unless any stock closes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 stocks: | Bank of Montreal, Royal Bank of Canada and Toronto-Dominion Bank
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| Amount: | $5.25 million
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| Maturity: | July 24, 2019
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| Coupon: | Each month, notes pay contingent coupon at annualized rate of 8% if each stock closes above barrier level on review date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless each stock finishes below barrier level, in which case full exposure to decline of least performing stock
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any monthly review date other than the first, second and final dates
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| Initial share prices: | $65.08 for BMO, $61.38 for RBC and $43.54 for Toronto-Dominion
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| Trigger prices: | $48.81 for BMO, $46.035 for RBC and $32.655 for Toronto-Dominion, 75% of initial prices
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| Pricing date: | July 19
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| Settlement date: | July 22
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 3.395%
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| Cusip: | 46646EKM3
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