By Wendy Van Sickle
Columbus, Ohio, Nov. 14 – JPMorgan Chase Financial Co. LLC priced $1.68 million of autocallable contingent interest notes due Nov. 14, 2023 linked to the lesser performing of the SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent semiannual coupon at an annual rate of 7% if each fund closes at or above its coupon barrier, 70% of its initial level, on a review date for that period.
The notes will be called at par if each fund closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless either fund finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing fund.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying funds: | SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF
|
| Amount: | $1,676,000
|
| Maturity: | Nov. 14, 2023
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| Issue price: | Par
|
| Coupon: | 7% annualized, payable quarterly if each underlying index closes at or above coupon barrier on review date for that quarter
|
| Payout at maturity: | Par unless either index falls below trigger, in which case full exposure to any losses of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than the final date
|
| Initial levels: | $277.76 for S&P fund, $154.08 for Russell fund
|
| Barrier levels: | $194.432 for S&P fund, $107.856 for Russell fund; 70% of initial levels
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| Trigger levels: | $180.544 for S&P fund, $100.52 for Russell fund; 65% of initial levels
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 15
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.15%
|
| Cusip: | 48130WBR1
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