By Wendy Van Sickle
Columbus, Ohio, Aug. 23 – JPMorgan Chase Financial Co. LLC priced $131,000 of 0% autocallable barrier notes due June 20, 2023 linked to the performance of the SPDR Gold trust and the iShares Silver trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an 18% premium if both ETFs finish above their initial levels on June 15, 2022.
If the notes are not called and both ETFs close above their initial levels, the payout at maturity will be par plus the return of the worst performer.
If the worst performer declines but finishes above 75% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing ETF.
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 barrier notes
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| Underlying funds: | SPDR Gold trust, iShares Silver trust
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| Amount: | $131,000
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| Maturity: | June 20, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If both ETFs finish positive, par plus return of worst performer; par if at least one ETF declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing ETF
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| Call: | At par plus premium of 18% if each ETF finishes above initial level on June 15, 2022
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| Initial levels: | $174.05 for Gold, $25.65 for Silver
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| Trigger levels: | $130.5375 for Gold, $19.2375 for Silver; 75% of initial levels
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| Pricing date: | June 15
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| Settlement date: | June 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.9542%
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| Cusip: | 48132ULD3
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