By William Gullotti
Buffalo, N.Y., Feb. 7 – JPMorgan Chase Financial Co. LLC priced $346,000 of autocallable contingent interest notes due April 11, 2024 linked to the U.S. Global Jets ETF, 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 of 8.7% per annum if the ETF closes at or above its 70% coupon barrier level on the determination date for that period. Previously unpaid coupons will also be paid.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial share price on any quarterly call observation date other than the final review date.
The payout at maturity will be par plus the coupon due unless the ETF finishes below 70% of its initial share price, in which case investors will be fully exposed to any losses.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | U.S. Global Jets ETF
|
| Amount: | $346,000
|
| Maturity: | April 11, 2024
|
| Contingent coupon: | 8.7% annualized rate, payable quarterly if the ETF closes at or above the coupon barrier level on the determination date for that period; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par unless the ETF finishes below 70% of its initial share price, in which case full exposure to losses of the fund
|
| Call: | Automatically at par if the ETF closes at or above initial level on any quarterly call observation date other than the final date
|
| Initial share price: | $27.49
|
| Coupon barrier level: | $19.243; 70% of initial share price
|
| Buffer level: | $19.243; 70% of initial share price
|
| Pricing date: | April 9
|
| Settlement date: | April 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48132TUJ3
|
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