By William Gullotti
Buffalo, N.Y., April 11 – JPMorgan Chase Financial Co. LLC sold $1.29 million of autocallable contingent interest notes due April 2, 2026 linked to the performance of the stocks of Bank of America Corp., Coca-Cola Co. and Walmart Inc., 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 12.45% if each stock closes at or above its interest barrier level, 60% of its initial level, on the corresponding review date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any monthly call date after three months.
If the notes are not called and each stock finishes at or above its 60% trigger value, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
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 stocks: | Bank of America Corp., Coca-Cola Co., Walmart Inc.
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Amount: | $1.29 million
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Maturity: | April 2, 2026
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Coupon: | 12.45% annualized, payable monthly if each underlying stock closes at or above interest barrier level on relevant observation date
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Price: | Par
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Payout at maturity: | If each stock finishes at or above trigger value, par plus final coupon; otherwise, full exposure to decline of worst performer from initial level
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Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly call date after three months
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Initial levels: | $28.67 for BofA, $61.86 for Coke, $144.23 for Walmart
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Interest barriers: | $17.202 for BofA, $37.116 for Coke, $86.538 for Walmart; 60% of initial levels
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Trigger values: | $17.202 for BofA, $37.116 for Coke, $86.538 for Walmart; 60% of initial levels
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Pricing date: | March 29
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Settlement date: | April 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.25%
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Cusip: | 48133VFM7
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