By Emma Trincal
New York, March 25 – JPMorgan Chase Financial Co. LLC priced $34.64 million of autocallable contingent interest notes due March 28, 2023 linked to the least performing of the SPDR S&P Regional Banking exchange-traded fund, the SPDR S&P Biotech ETF and the Technology Select Sector SPDR fund, 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 quarterly coupon at an annual rate of 15% if each ETF closes at or above its interest barrier level, 68.6% 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 quarterly review date.
The payout at maturity will be par plus the final coupon unless any ETF finishes below its 68.6% 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 S&P Regional Banking ETF, SPDR S&P Biotech ETF and Technology Select Sector SPDR fund
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| Amount: | $34,636,000
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| Maturity: | March 28, 2023
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| Coupon: | 15% annualized, payable quarterly 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 any 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 quarterly review date
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| Initial levels: | $64.77 for SPDR S&P Regional Banking, $138.54 for SPDR S&P Biotech and $131.05 for Technology Select Sector SPDR
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| Interest barrier: | $44.43 for SPDR S&P Regional Banking, $95.03 for SPDR S&P Biotech and $89.90 for Technology Select Sector SPDR, 68.6% of initial values
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| Trigger levels: | $44.43 for SPDR S&P Regional Banking, $95.03 for SPDR S&P Biotech and $89.90 for Technology Select Sector SPDR, 68.6% of initial values
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| Pricing date: | March 23
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| Settlement date: | March 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48132TGH3
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