By William Gullotti
Buffalo, N.Y., April 11 – JPMorgan Chase Financial Co. LLC priced $1.18 million of autocallable contingent interest notes due April 11, 2024 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a quarterly contingent interest payment at an annual rate of 10% if the ETF closes above its 62.25% coupon barrier level on the relevant review date. Previously unpaid contingent interest payments, if any, will be automatically included whenever a payment is made.
If the ETF closes at or above its initial level on any quarterly review date other than the final, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus the final contingent interest payment if the ETF finishes at or above its trigger price, 62.25% of its initial price.
Otherwise, investors will be fully exposed to the decline of the ETF from its initial price.
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 fund: | SPDR S&P Biotech ETF
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| Amount: | $1.18 million
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| Maturity: | April 11, 2024
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| Coupon: | 10% annual rate, payable quarterly if ETF closes at or above coupon barrier on review date for that period; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus interest payment if ETF finishes above trigger price; otherwise, lose 1% for every 1% decline of the ETF from initial price
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| Call: | At par plus interest payment if ETF closes at or above initial level on quarterly review date other than the final
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| Initial price: | $93.33
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| Coupon barrier level: | $58.097925; 62.25% of initial price
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| Trigger level: | $58.097925; 62.25% of initial price
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| Strike date: | April 6
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| Pricing date: | April 7
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| Settlement date: | April 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48133FJW6
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