New York, April 25 – JPMorgan Chase Financial Co. LLC priced $3.61 million of callable contingent interest notes due April 22, 2027 linked to the S&P 500 index and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.6%, paid semiannually, if the worst performing asset closes at or above its 60% downside threshold on the related valuation date.
The securities may be called at par on any semiannual determination date.
If the worst performing asset finishes at or above its 60% downside threshold, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from its initial level.
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: | Callable contingent interest notes
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Underlying assets: | S&P 500 index and SPDR S&P Biotech ETF
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Amount: | $3,614,000
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Maturity: | April 22, 2027
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Coupon: | 10.6%, paid semiannually, if the worst performing asset closes at or above its 60% downside threshold on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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Call option: | At par on any semiannual determination date
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Initial levels: | 4,967.23 for S&P 500, $82.83 for SPDR S&P Biotech ETF
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Downside thresholds: | 2,980.338 for S&P 500, $49.698 for SPDR S&P Biotech ETF, 60% of initial level
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Pricing date: | April 19
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Settlement date: | April 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0%
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Cusip: | 48134XBH7
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