By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – JPMorgan Chase Financial Co. LLC priced $469,000 of autocallable contingent interest notes due Dec. 4, 2023 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a quarterly coupon at an annual rate of 12.85% if each fund closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any quarterly review date other than the first, second, third and final dates.
The payout at maturity will be par plus the final coupon unless either fund finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing fund.
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 ETFs: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $469,000
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| Maturity: | Dec. 4, 2023
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| Coupon: | 12.85% annualized, payable quarterly if each fund closes above its interest barrier level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless either ETF finishes below its 70% trigger level, in which case 1% loss for each 1% decline of lesser performing ETF from initial level
|
| Call: | At par plus contingent coupon if each ETF closes at or above initial level on any quarterly review date other than the first, second, third and final dates
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| Initial levels: | $19.17 for gold ETF and $33.27 for oil and gas ETF
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| Interest barrier levels: | $13.419 for gold ETF and $23.289 for oil and gas ETF, 70% of initial levels
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| Trigger levels: | $11.502 for gold ETF and $19.962 for oil and gas ETF, 60% of initial levels
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.175%
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| Cusip: | 48130WCX7
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