By Wendy Van Sickle
Columbus, Ohio, Aug. 4 – JPMorgan Chase Financial Co. LLC priced $2.2 million of autocallable contingent interest notes due Aug. 18, 2021 linked to class A subordinate voting shares of Shopify Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 19.32% if the stock closes at or above its 75% coupon barrier on the review date for that quarter, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par plus the coupon unless the stock finishes below its 75% trigger level, in which case investors will lose 1.3333% for each 1% that the stock declines beyond 25%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Shopify Inc.
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| Amount: | $2.2 million
|
| Maturity: | Aug. 18, 2021
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| Coupon: | 19.32% annualized, payable quarterly if stock closes at or above coupon barrier on review date for that quarter, in which case a coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon unless the stock finishes below its trigger level, in which case investors will lose 1.3333% for each 1% decline beyond 25%
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any review date other than the first and final dates
|
| Initial level: | $1,053.59
|
| Coupon barrier level: | $790.1925, 75% of initial level
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| Trigger level: | $790.1925, 75% of initial level
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132MYK1
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