By William Gullotti
Buffalo, N.Y., March 19 – JPMorgan Chase Financial Co. LLC priced $2 million of autocallable contingent interest notes due March 15, 2029 linked to the MerQube US Large-Cap 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 13% if the index closes at or above its 60% interest barrier on the related review date. Previously unpaid interest, 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 quarterly review date after one year.
If the notes are not called, the payout at maturity will be par plus the final coupon if the index finishes at or above its 60% trigger level.
Otherwise, 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying index: | MerQube US Large-Cap Vol Advantage index
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| Amount: | $2 million
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| Maturity: | March 15, 2029
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| Coupon: | 13% annual rate, payable monthly if the index closes at or above its interest barrier on the related quarterly review date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon if index finishes at or above trigger level; otherwise, lose 1% for every 1% decline from the index’s initial level
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| 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 one year
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| Initial level: | 3,490.59
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| Interest barrier: | 2,094.354; 60% of initial level
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| Trigger level: | 2,094.354; 60% of initial level
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| Pricing date: | March 12
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| Settlement date: | March 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48134W5M5
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