New York, July 14 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due July 3, 2025 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17%, paid quarterly, if the underlying fund closes at or above its 50% trigger level on the related quarterly observation date.
The securities will be called automatically at par if the closing price of the underlying fund is greater than or equal to its initial price on any quarterly review date starting Dec. 30, 2022.
At maturity, the payout will be par unless the ETF finishes below its 50% trigger level, in which case investors will be fully exposed to the decline of the ETF.
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: | Autocallable contingent interest notes
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF (Ticker: XOP)
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| Amount: | $1 million
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| Maturity: | July 3, 2025
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| Coupon: | 17%, paid quarterly, if the underlying fund closes at or above its 50% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the ETF finishes below its trigger level, in which case investors will be fully exposed to the decline in the ETF
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| Call: | Automatically at par if the closing price of the underlying fund is greater than or equal to its initial price on any quarterly review date starting Dec. 30, 2022
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| Initial level: | $119.48
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| Trigger level: | $59.74, 50% of initial level
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.55%
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| Cusip: | 48133GX65
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