By Sarah Lizee
Olympia, Wash., Dec. 13 – JPMorgan Chase Financial Co. LLC priced $3.38 million of autocallable contingent interest notes due Dec. 1, 2022 linked to the least performing of the common stocks of Boeing Co. and Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 10.75% per year if each stock closes at or above its interest barrier, 70% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above 93% of its initial share price on any quarterly review date other than the final date.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its barrier level, 70% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock declines.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Boeing Co. and Southwest Airlines Co.
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| Amount: | $3,382,000
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| Maturity: | Dec. 1, 2022
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| Coupon: | 10.75% per year, payable quarterly if each stock closes at or above interest barrier value on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above barrier value; otherwise, 1% for every 1% that the least-performing stock declines
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above 93% of initial price on any review date other than final date
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| Initial share prices: | $368.00 for Boeing, $57.75 for Southwest
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| Coupon barriers: | $257.60 for Boeing, $40.425 for Southwest; 70% of initial share prices
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| Barrier levels: | $257.60 for Boeing, $40.425 for Southwest; 70% of initial share prices
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| Pricing date: | Nov. 27
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| Settlement date: | Dec. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48132FK70
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