By William Gullotti
Buffalo, N.Y., July 12 – JPMorgan Chase Financial Co. LLC priced $13.68 million of 0% digital equity notes due Aug. 9, 2023 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.
If the ETF finishes at or above its threshold level, 70% of initial level, the payout at maturity will par plus 12%.
Otherwise, investors will lose 1.4286% for every 1% of ETF decline beyond 30%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Digital equity notes
|
| Underlying fund: | SPDR S&P Metals & Mining ETF
|
| Amount: | $13,675,000
|
| Maturity: | Aug. 9, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF finishes at or above threshold level, par plus 12%; otherwise, 1.4286% loss for every 1% ETF decline below 30%
|
| Initial level: | $41.47
|
| Threshold level: | 70% of initial level
|
| Pricing date: | July 5
|
| Settlement date: | July 12
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.93%
|
| Cusip: | 48133GY31
|
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