By William Gullotti
Buffalo, N.Y., June 21 – JPMorgan Chase Financial Co. LLC priced $1.1 million of autocallable contingent interest notes due March 16, 2023 linked to the VanEck Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon of 10.2% per annum if the ETF closes at or above its 70% coupon barrier level on the determination date for that period.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial share price on any monthly call observation date other than the first, second and final review dates.
The payout at maturity will be par unless the ETF finishes below 70% of its initial share price, in which case investors will be exposed to the ETF’s decline from its initial share price.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | VanEck Vectors Junior Gold Miners ETF
|
| Amount: | $1,101,000
|
| Maturity: | March 16, 2023
|
| Contingent coupon: | 10.2% annualized, payable monthly if the ETF closes at or above the coupon barrier level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless the ETF finishes below 70% of its initial share price, in which case exposure to the ETF’s losses from its initial share price
|
| Call: | Automatically at par if the ETF closes at or above initial level on any monthly call observation date other than the first, second and final ones
|
| Initial share price: | $53.21
|
| Coupon barrier: | $37.247; 70% of initial share price
|
| Barrier level: | $37.247; 70% of initial share price
|
| Pricing date: | June 11
|
| Settlement date: | June 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132UMR1
|
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