By Kiku Steinfeld
Chicago, July 7 – JPMorgan Chase Financial Company LLC priced $2.15 million of 0% digital currency-linked notes due Feb. 18, 2025 tied to the exchange rate of the dollar relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
The exchange rate is the number of dollars needed to buy one euro. The initial exchange rate on the pricing date is 1.15.
If at maturity the final exchange rate is equal to or greater than the initial rate, the payout will be $1,201.50 per each $1,000 principal amount. If the final exchange rate is less than the initial exchange rate – meaning that fewer U.S. dollars are needed to purchase one euro at the initial rate compared to the final –investors will perceive par.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Company LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Digital currency-linked notes
|
| Underlying currency: | Dollar relative to euro
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| Amount: | $2,154,000
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| Maturity: | Feb. 18, 2025
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 20.15% if the final exchange rate is equal to or greater than the initial rate; otherwise, par
|
| Initial rate: | 1.15
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48133U3G5
|
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