By Marisa Wong
Morgantown, W.Va., July 27 – JPMorgan Chase Financial Co. LLC priced $1.06 million of 0% review notes due July 26, 2021 linked to the lesser performing of the SPDR S&P Metals & Mining exchange-traded fund and the VanEck Vectors Gold Miners ETF, according to a 424B2 filed 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 17.4% if each underlying closes at or above its initial level on any of four annual call dates.
The payout will be par plus the contingent minimum return of 10% unless either underlying finishes below its 70% trigger level, in which case investors will be fully exposed to the losses of the worse performing underlying.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlyings: | SPDR S&P Metals & Mining ETF and VanEck Vectors Gold Miners ETF
|
| Amount: | $1,055,000
|
| Maturity: | July 26, 2021
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus the contingent minimum return of 10% unless either underlying finishes below its 70% trigger level, in which case investors will be fully exposed to the losses of the worse performing underlying
|
| Call: | At par plus an annual call premium of 17.4% if each underlying closes at or above its initial level on any of four annual call dates
|
| Initial levels: | $31.48 for Metals & Mining and $22.41 for Gold Miners
|
| Trigger levels: | $22.036 for Metals & Mining and $15.687 for Gold Miners; 70% of initial levels
|
| Pricing date: | July 21
|
| Settlement date: | July 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 46647MXU2
|
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