By Tali Rackner
Minneapolis, Jan. 22 – JPMorgan Chase Financial Co. LLC priced $1.97 million of autocallable contingent interest notes due Jan. 18, 2023 linked to the least performing of the SPDR S&P 500 ETF Trust, the iShares Russell 2000 exchange-traded fund and the SPDR Euro Stoxx 50 exchange-traded fund, 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 semiannual coupon at an annual rate of 7.35% if each ETF closes at or above its interest barrier, 65% of its initial price, on interest 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 price on any review date other than the final date.
The payout at maturity will be par plus the final coupon unless any ETF finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the least-performing ETF from its initial price.
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 and SPDR Euro Stoxx 50 ETF
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| Amount: | $1.97 million
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| Maturity: | Jan. 18, 2023
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| Coupon: | 7.35% annualized, payable semiannually if each ETF closes at or above interest barrier on interest review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any ETF finishes below trigger price, in which case 1% loss for each 1% decline of least-performing ETF from initial price
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| Call: | At par plus contingent coupon if each ETF closes at or above initial price on any review date other than the final date
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| Initial prices: | $277.92 for SPDR S&P 500, $158.16 for iShares Russell, $42.76 for SPDR Euro Stoxx
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| Interest barriers: | $180.648 for SPDR S&P 500, $102.804 for iShares Russell, $27.794 for SPDR Euro Stoxx; 65% of initial prices
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| Trigger values: | $166.752 for SPDR S&P 500, $94.896 for iShares Russell, $25.656 for SPDR Euro Stoxx; 60% of initial prices
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.99%
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| Cusip: | 48129HM61
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