Chicago, May 18 – JPMorgan Chase Financial Co. LLC priced $270,500 of trigger autocallable contingent yield notes due Oct. 29, 2026 linked to the SPDR S&P Metals & Mining ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at the rate of 9.2% per year if the ETF closes at or above the coupon barrier, 70% of the initial level, on the corresponding observation date.
The notes will be automatically called at par of $10 plus the coupon if the ETF closes at or above its initial level on any quarterly observation date after six months.
If the notes are not called and the final level is greater than or equal to the coupon barrier, the payout at maturity will be par plus the final coupon.
If the ETF finishes below the coupon barrier but at or above threshold level, 60% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETF: | SPDR S&P Metals & Mining ETF
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| Amount: | $270,500
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| Maturity: | Oct. 29, 2026
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| Contingent coupon: | 9.2% annual rate, payable quarterly if each ETF closes at or above coupon barrier level on related quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | If ETF’s final level is greater than or equal to coupon barrier, par plus final coupon; if ETF finishes below coupon barrier but at or above threshold level, par; otherwise, 1% loss for every 1% decline from initial level
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| Call: | Automatically at par plus coupon if ETF closes at or above initial level on any quarterly observation date after six months
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| Initial price: | $45.70
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| Coupon barrier: | $31.99; 70% of initial price
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| Threshold level | $27.42; 60% of initial price
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| Pricing date: | Oct. 25, 2021
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| Settlement date: | Oct. 28, 2021
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 46652Y216
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