By Susanna Moon
Chicago, April 13 – JPMorgan Chase Financial Co. LLC priced $930,000 of autocallable contingent interest notes due April 6, 2023 linked to the lesser performing of the SPDR S&P 500® ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 7% if each fund closes at or above its 70% coupon barrier on the review date for that period.
The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless either fund finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing fund.
The notes are guaranteed by JPMorgan Chase & Co.
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 funds: | SPDR S&P 500 ETF Trust, iShares Russell 2000 ETF
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| Amount: | $930,000
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| Maturity: | April 6, 2023
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| Coupon: | 7% annualized, payable semiannually if each fund closes at or above 70% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either fund closes below 60% trigger, in which case 1% loss for each 1% decline of worse performing fund
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| Call: | At par plus contingent coupon if each fund closes at or above initial level on any quarterly review date other than final date
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| Initial levels: | $257.47 for S&P fund, $148.13 for Russell fund, closing levels on April 2
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| Coupon barriers: | $180.229 for S&P fund, $103.691 for Russell fund; 70% of initial levels
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| Trigger levels: | $154.482 for S&P fund, $88.878 for Russell fund; 60% of initial levels
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| Strike date: | April 2
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| Pricing date: | April 3
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| Settlement date: | April 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.65%
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| Cusip: | 48129MKZ8
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