Chicago, Nov. 6 – JPMorgan Chase Financial Co. LLC priced $990,000 of callable contingent interest notes due Oct. 21, 2022 linked to the lesser performing of the SPDR S&P biotech exchange-traded fund and the SPDR S&P oil & gas exploration & production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The guarantor is JPMorgan Chase & Co.
Every six months, the notes will pay a contingent interest payment at an annual rate of 12.5% if each fund closes at or above its interest barrier level, 55% of its initial level, on the review date for that period.
The notes will be callable at par plus any contingent interest payment due on any semiannual review date other than the final one.
If the notes have not been called, the payout at maturity will be par plus the final contingent interest payment if both funds close above their trigger values, 55% of initial levels.
Otherwise 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: | Callable contingent interest notes
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| Underlying ETFs: | SPDR S&P biotech ETF and SPDR S&P oil & gas exploration & production ETF
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| Amount: | $990,000
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| Maturity: | Oct. 21, 2022
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| Coupon: | 12.5% per year, payable semiannually if each fund closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent interest payment unless either fund finishes below 55% of its initial value, in which case 1% loss for each 1% decline of lesser-performing fund
|
| Call option: | At par plus the contingent interest payment on any semiannual review date other than the final one
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| Initial levels: | $78.65 for biotech and $20.56 for oil & gas
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| Interest barriers/triggers: | $43.2575 for biotech and $11.308 for oil & gas, 55% of initial levels
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132FNY8
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