By William Gullotti
Buffalo, N.Y., April 11 – JPMorgan Chase Financial Co. LLC priced $2.63 million of autocallable contingent interest notes due April 3, 2029 linked to the MerQube US Tech+ Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay contingent monthly interest at an annual rate of 9.15% if the index closes at or above its 60% interest barrier on the related review date. Previously missed interest payments, if any, will be automatically included whenever interest is paid.
The notes will be called at par plus the coupon if the index closes at or above its initial level on any monthly review date after one year.
The payout at maturity will be par plus the final coupon unless the index finishes below the 60% trigger level, in which case investors will be fully exposed to the decline of the index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying index: | MerQube US Tech+ Vol Advantage index
|
| Amount: | $2,627,000
|
| Maturity: | April 3, 2029
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| Coupon: | 9.15% annual rate, payable monthly if the index closes at or above its interest barrier on the related monthly review date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless the index finishes below trigger level, in which case investors will lose 1% for every 1% decline from the index’s initial level
|
| Call: | Automatically at par plus the contingent interest payment if the index closes at or above its initial level on any monthly review date after one year
|
| Initial level: | 10,596.8
|
| Interest barrier: | 6,358.08; 60% of initial level
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| Trigger level: | 6,358.08; 60% of initial level
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| Pricing date: | March 28
|
| Settlement date: | April 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.25%
|
| Cusip: | 48134XAV7
|
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