By William Gullotti
Buffalo, N.Y., Dec. 22 – JPMorgan Chase Financial Co. LLC priced $2.69 million of 14.17% yield notes due Dec. 15, 2023 linked to the spread between the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable annually.
The payout at maturity will be par unless the spread falls below the trigger level, set at 0%, on any calendar day during the observation period, in which case investors will lose a percentage equal to the percentage of days where the underlying spread was less than 0%.
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: | Yield notes
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| Underlying spread: | 30-year U.S. dollar ICE swap rate minus two-year U.S. dollar ICE swap rate
|
| Amount: | $2.69 million
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| Maturity: | Dec. 15, 2023
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| Coupon: | 14.17%, payable annually
|
| Price: | Par
|
| Payout at maturity: | Par unless the spread falls below trigger level on any day during the observation period, in which case investors will lose a percentage of their investment equal to the percentage of days where the underlying spread was less than 0%
|
| Trigger level: | 0%
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| Observation dates: | Starting and including Dec. 15, 2022 up to, but excluding, the maturity date
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| Pricing date: | Dec. 10
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| Settlement date: | Dec. 15
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48130UZR9
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