By Susanna Moon
Chicago, March 9 – JPMorgan Chase Financial Co. LLC priced $6.83 million of autocallable contingent interest notes due Feb. 27, 2023 linked to the least performing of the SPDR S&P 500 ETF Trust, the iShares Russell 2000 ETF and the SPDR Euro Stoxx 50 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 8% if each fund closes at or above its 60% 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 any fund finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
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 indexes: | SPDR S&P 500 ETF Trust, the iShares Russell 2000 ETF and the SPDR Euro Stoxx 50 ETF
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| Amount: | $1,825,000
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| Maturity: | Feb. 27, 2023
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| Coupon: | 8% annualized, payable semiannually if each fund closes at or above 60% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any fund finishes 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: | $270.40 for S&P fund, $152.00 for Russell fund and $41.05 for Stoxx fund
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| Trigger levels: | $162.24 for S&P fund, $91.20 for Russell fund and $24.63 for Stoxx fund, 60% of initial levels
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| Pricing date: | Feb. 22
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| Settlement date: | Feb. 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.82%
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| Cusip: | 48129HT64
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