By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – JPMorgan Chase Financial Co. LLC priced $1.19 million of 0% autocallable buffered equity notes due Sept. 30, 2024 linked to the lesser performing of the SPDR Gold Trust and iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus an annual call premium of 10.5% if each ETF closes at or above its initial level on any annual review date other than the final date.
If the notes are not called and each underlying ETF finishes above its initial level, the payout at maturity will be par plus the gain of the worse performing asset.
If either asset falls but neither falls by more than the 20% buffer, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse performing ETF beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable buffered equity notes
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| Underlying ETFs: | SPDR Gold Trust and iShares Silver Trust
|
| Amount: | $1,191,000
|
| Maturity: | Sept. 30, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 10.5% per year if each ETF closes at or above initial level on any annual review date other than final date
|
| Payout at maturity: | If each asset gains, par plus return of worse performing asset; if either asset falls but neither falls by more than 20%, par; otherwise, 1% loss for each 1% decline of worse performing ETF beyond 20%
|
| Initial levels: | $174.94 for gold and $21.30 for silver
|
| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.28568%
|
| Cusip: | 48132MP70
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