By William Gullotti
Buffalo, N.Y., Aug. 13 – JPMorgan Chase Financial Co. LLC priced $1.41 million of autocallable contingent interest notes due Dec. 20, 2022 linked to the least performing of the SPDR Gold Trust and the iShares Silver Trust, 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% if each ETF closes at or above its interest barrier level, 75% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any monthly review date other than the first, second and final dates.
The payout at maturity will be par plus the final coupon unless any ETF finishes below its 75% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s 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 ETFs: | SPDR Gold Trust, iShares Silver Trust
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| Amount: | $1,405,000
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| Maturity: | Dec. 20, 2022
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| Coupon: | 12% annualized, payable monthly if each ETF closes at or above interest barrier level on review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any ETF finishes below trigger level, in which case 1% loss for each 1% decline of least performing ETF from initial level
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| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any monthly review date other than the first, second and final ones
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| Initial levels: | $174.05 for Gold, $25.65 for Silver
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| Interest barrier: | $130.5375 for Gold, $19.2375 for Silver; 75% of initial values
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| Trigger levels: | $130.5375 for Gold, $19.2375 for Silver; 75% of initial values
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| Pricing date: | June 15
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| Settlement date: | June 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48132ULJ0
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