By Wendy Van Sickle
Columbus, Ohio, July 13 – JPMorgan Chase Financial Co. LLC sold $860,000 of 0% autocallable buffered return enhanced notes due July 13, 2023 linked to the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus 11.75% if the ETF closes at or above its initial level on July 22, 2022.
The payout at maturity will be par plus 2 times any ETF gain.
Investors will receive par if the ETF falls by up to 20%. If the ETF falls by more than 20%, investors will be fully exposed to the ETF’s decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable buffered return enhanced notes
|
| Underlying ETF: | SPDR S&P Bank
|
| Amount: | $860,000
|
| Maturity: | July 13, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Par plus 11.75% if ETF closes at or above initial level on July 22, 2022
|
| Payout at maturity: | Par plus 2 times any ETF gain; par if ETF falls by up to 20%; otherwise, full exposure to ETF’s decline
|
| Initial ETF level: | $50.70
|
| Contingent buffer level: | 80% of initial level
|
| Pricing date: | July 9
|
| Settlement date: | July 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132UZL0
|
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