By William Gullotti
Buffalo, N.Y., Aug. 26 – JPMorgan Chase Financial Co. LLC priced $2.06 million of callable contingent interest notes due Aug. 23, 2024 linked to the shares of KraneShares CSI China Internet ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if the ETF closes at or above its 65% coupon barrier on the relevant review date.
The notes may be called at par plus any coupon due on any of the review dates other than the final.
If the notes have not been called and the final share price is greater than or equal to the 60% trigger level, the payout at maturity will be par. If the final share price is less than the trigger level, investors will be exposed to the decline of the shares from the initial share price.
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: | Callable contingent interest notes
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Underlying fund: | KraneShares CSI China Internet ETF
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Amount: | $2,062,000
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Maturity: | Aug. 23, 2024
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Coupon: | 11% per year, payable quarterly, if ETF closes at or above its coupon barrier on the corresponding review date
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Price: | Par
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Payout at maturity: | Par unless shares finish below trigger price, in which case investors will be exposed to the ETF’s decline from initial level
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Call option: | At par plus any coupon due on any quarterly review date other than the final
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Initial share price: | $44.09
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Interest barrier: | $28.6585; 65% of initial share price
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Trigger price: | $26.454; 60% of initial share price
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Pricing date: | Aug. 20
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Settlement date: | Aug. 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 48132WEZ8
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