By Sarah Lizee
Olympia, Wash., June 10 – JPMorgan Chase Financial Co. LLC priced $3.98 million of contingent coupon autocallable yield notes due June 9, 2022 linked to the Financial Select Sector SPDR Fund, the Technology Select Sector SPDR Fund and the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 15% if each ETF closes above its 65.6% barrier on the observation date for that quarter.
The notes will be called at par if each ETF closes at or above its initial level on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless any ETF finishes below its barrier, in which case investors will be fully exposed to the decline of the least-performing ETF.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying funds: | Financial Select Sector SPDR Fund, Technology Select Sector SPDR Fund and SPDR S&P Bank ETF
|
| Amount: | $3,984,000
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| Maturity: | June 9, 2022
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| Coupon: | 15% per year, payable quarterly if each ETF closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless any ETF finishes below its barrier level, in which case 1% loss for each 1% decline of the worst-performing ETF
|
| Call option: | At par if each index closes at or above its initial level on any quarterly observation date
|
| Initial levels: | $26.24 for Financial Select, $101.41 for Technology Select and $36.66 for SPDR S&P Bank
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| Barrier levels: | $17.21344 for Financial Select, $66.52496 for Technology Select and $24.04896 for SPDR S&P Bank, 65.6% of initial levels
|
| Pricing date: | June 5
|
| Settlement date: | June 11
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48132MFC0
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