By Taylor Fox
New York, March 12 – JPMorgan Chase Financial Co. LLC priced $6 million of 0% review notes due Feb. 29, 2024 linked to the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 14.25% per year if the fund closes at or above its strike value on any annual call date.
If the notes are not called and the final share price is greater than or equal to the barrier level, 75% of the strike value, then the payout will at maturity will be par. If the final share price is less than the barrier level, investors will lose 1% for each 1% that the fund declines from the strike value.
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.
|
| Issue: | Review notes
|
| Underlying fund: | SPDR S&P Bank ETF
|
| Amount: | $6 million
|
| Maturity: | Feb. 29, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to barrier level, par; otherwise, 1% loss for each 1% that fund declines from strike value
|
| Call: | Automatically at par plus call premium of 14.25% per year if fund closes at or above strike value on an annual call date
|
| Strike value: | $50.79
|
| Barrier level: | $38.0925, 75% of strike value
|
| Strike date: | Feb. 25
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.1%
|
| Cusip: | 48132RT26
|
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