By Susanna Moon
Chicago, July 10 – JPMorgan Chase Financial Co. LLC priced $1.01 million of callable contingent interest notes due June 30, 2023 linked to the lesser performing of the S&P 500 index and the and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 7% if each underlying component closes at or above its 60% coupon barrier on the review date for that period.
The notes are callable at par plus the contingent coupon on any review date other than the first and final dates.
The payout at maturity will be par unless either component finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing component.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying assets: | S&P 500 and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1.01 million
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| Maturity: | June 30, 2023
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| Coupon: | 7% annualized, payable semiannually if each underlying component closes at or above 60% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either component finishes below its 50% trigger, in which case1 % loss for each 1% decline of worse performing component
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| Call option: | At par on any review date other than first and final dates
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| Initial levels: | 2,438.30 for S&P and $31.02 for oil fund
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| Coupon barriers: | 1,462.98 for S&P and $18.612 for oil fund, 60% of initial levels
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| Triggers: | 1,219.15 for S&P and $15.51 for oil fund, 50% of initial levels
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| Pricing date: | June 23
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| Settlement date: | June 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 46647MJG9
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