By William Gullotti
Buffalo, N.Y., April 22 – JPMorgan Chase Financial Co. LLC priced $7.7 million of 0% trigger autocallable notes due April 21, 2026 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on any quarterly observation date after one year, the notes will be automatically called at par plus an 8.11% annualized call premium.
If the notes are not called and the index finishes at or above its 65% downside threshold level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% that the index’s final level is below its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
J.P. Morgan Securities LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable notes
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| Underlying index: | S&P 500 index
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| Amount: | $7.7 million
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| Maturity: | April 21, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the notes are not called and the index finishes at or above downside threshold, par; otherwise, full exposure to index’s decline from initial level
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| Call: | At par plus an 8.11% annualized premium if the index closes at or above its initial level on any quarterly observation date after one year
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| Initial level: | 5,051.41
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| Downside threshold: | 3,283.42; 65% of initial level
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| Pricing date: | April 16
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| Settlement date: | April 19
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| Underwriter: | J.P. Morgan Securities LLC
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| Selling agent: | UBS Financial Services Inc.
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| Fees: | 1.75%
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| Cusip: | 48131F495
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