By Wendy Van Sickle
Columbus, Ohio, July 15 – JPMorgan Chase Financial Co. LLC priced $1.67 million of autocallable contingent interest notes due Jan. 18, 2024 tied to the least performing of the SPDR S&P Regional Banking ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.15% if each underlying asset closes at or above its 60% coupon barrier on the coupon review date for that month.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any monthly autocall review date other than the first and final review dates.
The payout at maturity will be par unless any underlier finishes below its 60% barrier level, in which case investors will be exposed to any losses of the worst performing index or fund.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | SPDR S&P Regional Banking ETF and S&P 500 index
|
| Amount: | $1,666,000
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| Maturity: | Jan. 18, 2024
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| Coupon: | 8.15%, payable monthly if each underlying asset closes at or above its coupon barrier on the coupon review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlier finishes below its barrier level, in which case investors will be exposed to any losses of the worst performing index or fund
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial price on any monthly autocall review date other than the first and final review dates
|
| Initial levels: | 3,818.8 for index and $58.66 for ETF
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| Coupon barriers: | 2,291.28 for index and $35.196 for ETF, 60% of initial levels
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| Barrier values: | 2,291.28 for index and $35.196 for ETF, 60% of initial levels
|
| Pricing date: | July 12
|
| Settlement date: | July 15
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48133LLE0
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