By Sarah Lizee
Olympia, Wash., Feb. 26 – JPMorgan Chase Financial Co. LLC priced $7.01 million 0% enhanced trigger jump securities due March 3, 2021 tied to the 10-year U.S. Dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
If the final swap rate level is at least 65% of the initial level, the payout at maturity will be par plus the upside payment of 10.75%.
If the final swap rate level is less than the 65% trigger level, investors will be fully exposed to the rate’s decline from its initial level.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Enhanced trigger jump securities
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Underlying rate: | 10-year U.S. Dollar ICE swap rate
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Amount: | $7.01 million
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Maturity: | March 3, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final swap rate level is greater than or equal to trigger level, par plus 10.75%; otherwise, 1% loss per 1% decline
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Initial swap rate: | 1.507%
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Trigger level: | 0.97955%; 65% of initial level
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Pricing date: | Feb. 19
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Settlement date: | Feb. 24
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Agent: | J.P. Morgan Securities LLC
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Distribution: | Morgan Stanley Smith Barney LLC
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Fees: | 2.25%
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Cusip: | 48130UTW5
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