By Kiku Steinfeld
Chicago, Oct. 1 – JPMorgan Chase Financial Co. LLC priced $1.95 million of autocallable contingent interest notes due Dec. 29, 2021 linked to Etsy, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12% if the stock closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above 80% of its initial level on any monthly review date other than the first, second and final dates.
The payout at maturity will be par unless the stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses.
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 stock: | Etsy, Inc.
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Amount: | $1,951,000
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Maturity: | Dec. 29, 2021
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Coupon: | 12% annualized, payable monthly if stock closes at or above its coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
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Call: | At par plus contingent coupon if stock closes at or above 80% of its initial level on any monthly review date other than the first, second and final dates
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Initial level: | $115.09
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Coupon barrier: | $69.054, 60% of initial level
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Trigger level: | $57.545, 50% of initial level
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Pricing date: | Sept. 23
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Settlement date: | Sept. 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48132PCZ5
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