By Kiku Steinfeld
Chicago, Oct. 13 – JPMorgan Chase Financial Co. LLC priced $961,000 of autocallable contingent interest notes due Jan. 4, 2022 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the ETF closes at or above the coupon barrier – 70% of the initial share price – on a monthly review date, the issuer will pay a contingent coupon for that month at a rate of 11% per year.
If the shares close at or above the initial price on any monthly review date other than the first, second and final review dates, the notes will be called at par plus the contingent coupon.
If the notes are not called and the ETF finishes at or above the 70% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% share price decline below the initial price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
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| Amount: | $961,000
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| Maturity: | Jan. 4, 2022
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| Coupon: | 11% per year, payable each month that ETF closes at or above coupon barrier on review date for that month
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger price; otherwise, full exposure to any ETF decline
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any monthly review date other than first, second and final review dates
|
| Initial share price: | $39.16
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| Coupon barrier: | $27.412, 70% of initial price
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| Trigger price: | $27.412, 70% of initial price
|
| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.12227%
|
| Cusip: | 48132PEX8
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