New York, May 6 – JPMorgan Chase Financial Co. LLC priced $1.25 million of autocallable contingent interest notes due May 2, 2024 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid quarterly, if the underlying fund closes at or above its 55% trigger level on the related quarterly observation date.
The securities will be called automatically starting July 27 if the price of the underlying fund is greater than or equal to its strike price and on any subsequent quarterly review date.
At maturity the payout will be par unless the fund closes below its 55% trigger level in which case investors will be fully exposed to the decline of the fund.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying ETF: | SPDR S&P Biotech ETF (Ticker: XBI)
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Amount: | $1.25 million
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Maturity: | May 2, 2024
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Coupon: | 11.5%, paid quarterly, if the underlying fund closes at or above its 55% trigger level on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the fund closes below its trigger level in which case investors will be fully exposed to the decline in the fund
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Call: | Automatically starting July 27 if the price of the underlying fund is greater than or equal to its strike price and on any subsequent quarterly review date
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Initial level: | $75.92
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Trigger level: | $41.756, 55% of initial level
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Strike date: | April 27
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Pricing date: | April 28
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Settlement date: | April 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.35%
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Cusip: | 48133FYC3
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