By Wendy Van Sickle
Columbus, Ohio, Nov. 8 – JPMorgan Chase Financial Co. LLC priced $3.81 million of trigger autocallable contingent yield notes due Sept. 26, 2025 linked to the iShares Russell 2000 ETF and SPDR S&P MidCap 400 ETF Trust, 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 11.45% per year if each ETF closes at or above the coupon barrier, 70% of the initial level, on the relevant observation date.
The notes will be automatically called at par of $10 plus the coupon if each ETF closes at or above initial level on any quarterly observation date after six months.
If the notes are not called and the final level of each ETF is greater than or equal to the 60% threshold level, the payout at maturity will be par plus the final coupon, if any. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETFs: | iShares Russell 2000 ETF, SPDR S&P MidCap 400 ETF Trust
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| Amount: | $3,809,210
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| Maturity: | Sept. 26, 2025
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| Contingent coupon: | 11.45% annual rate, payable quarterly if each ETF closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par of $10
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| Payout at maturity: | Par plus final coupon, if any, if each ETF finishes at or above threshold level; otherwise, 1% loss for each 1% decline of worst performer from initial price
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| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly observation date after six months
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| Initial prices: | $167.31 for iShares Russell 2000, $407.87 for SPDR S&P MidCap 400
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| Coupon barriers: | $117.12 for iShares Russell 2000, $285.51 for SPDR S&P MidCap 400; 70% of initial price
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| Threshold levels: | $100.39 for iShares Russell 2000, $244.72 for SPDR S&P MidCap 400; 60% of initial price
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48133J859
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