By Kiku Steinfeld
Chicago, Dec. 3 – JPMorgan Chase Financial Co. LLC priced $1.73 million of autocallable contingent interest notes due Aug. 15, 2023 linked to the least performing of the SPDR S&P 500 ETF trust, the iShares Russell 2000 ETF and the Invesco QQQ Trust, Series 1, 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 7% if each ETF closes at or above its interest barrier level, 70% 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 other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any ETF finishes below its 70% trigger value, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying ETFs: | SPDR S&P 500 ETF trust, iShares Russell 2000 ETF and Invesco QQQ Trust, Series 1
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| Amount: | $1.73 million
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| Maturity: | Aug. 15, 2023
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| Coupon: | 7% annual rate, payable quarterly if each ETF closes at or above interest barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any ETF finishes below its trigger value, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any quarterly review date other than the final one
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| Initial levels: | $442.68 for S&P, $222.60 for Russell, $366.84 for QQQ
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| Interest barrier: | $309.876 for S&P, $155.82 for Russell, $256.788 for QQQ; 70% of initial levels
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| Trigger levels: | $309.876 for S&P, $155.82 for Russell, $256.788 for QQQ; 70% of initial levels
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132WBZ1
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