New York, May 19 – JPMorgan Chase Financial Co. LLC priced $4.07 million of contingent income autocallable securities due May 16, 2025 linked to Schlumberger NV common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.25% if the underlying stock closes at or above its 50% downside threshold on the related quarterly observation date.
The securities will be called automatically, starting Aug. 15 and on any subsequent quarterly review date, at par if the price of the underlying stock is greater than or equal to its initial price.
At maturity, the payout will be par unless the stock finishes below its 50% downside threshold, in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Contingent income autocallable securities
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Underlying stock: | Schlumberger NV
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Amount: | $4,074,130
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Maturity: | May 16, 2025
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Coupon: | 11.25% if the underlying stock closes at or above its 50% downside threshold on the related quarterly observation date
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Price: | Par of $10
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Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the underlying stock
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Call: | Automatically at par if the price of the underlying stock is greater than or equal to its initial price starting Aug. 15 and on any subsequent quarterly review date
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Initial level: | $40.74
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Downside threshold: | $20.37, 50% of initial level
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Pricing date: | May 13
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Settlement date: | May 18
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Agent: | J.P. Morgan Securities LLC
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 2.5% including a structuring fee of 0.5%
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Cusip: | 48133E603
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