By Sarah Lizee
Olympia, Wash., May 12 – JPMorgan Chase Financial Co. LLC priced $593,000 of autocallable contingent interest notes due Aug. 12, 2021 linked to Slack Technologies, Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12.2% if the stock closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above 80% of its initial level on any review date other than the final date.
The payout at maturity will be par plus any coupon due unless the stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses.
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: | Autocallable contingent interest notes
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Underlying stock: | Slack Technologies, Inc.
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Amount: | $593,000
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Maturity: | Aug. 12, 2021
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Coupon: | 12.2% annualized, payable monthly if stock closes at or above coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par plus the coupon unless the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
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Call: | At par plus contingent coupon if stock closes at or above 80% of initial level on any review date other than final date
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Initial level: | $29.95
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Coupon barrier level: | $17.97, 60% of initial level
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Trigger level: | $14.975, 50% of initial level
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Pricing date: | May 7
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Settlement date: | May 12
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48132K5P6
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