By William Gullotti
Buffalo, N.Y., July 19 – JPMorgan Chase Financial Co. LLC priced $60,000 of autocallable contingent interest notes due July 2, 2025 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 quarterly interest at an annual rate of 10.5% if the index closes at or above its 60% interest barrier on the related review date.
The notes will be called at par plus the coupon if the index closes at or above its initial level on any quarterly review date after six months.
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: | $60,000
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| Maturity: | July 2, 2025
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| Coupon: | 10.5% annual rate, payable quarterly if the index closes at or above its interest barrier on the related quarterly review date
|
| 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 quarterly review date after six months
|
| Initial level: | 6,914.33
|
| Interest barrier: | 4,148.598; 60% of initial level
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| Trigger level: | 4,148.598; 60% of initial level
|
| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.25%
|
| Cusip: | 48133GB85
|
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