New York, Aug. 22 – JPMorgan Chase Financial Co. LLC priced $3.95 million of autocallable contingent interest notes due Nov. 20, 2024 linked to the Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid monthly, if each underlying fund closes at or above its 70% trigger level on the related monthly observation date.
The securities will be called automatically starting Feb. 15, 2024 at par if the price of each underlying fund is greater than or equal to its initial price on any monthly review date.
At maturity the payout will be par if all of the ETFs never close below the 70% trigger level during the life of the notes or the worst performing ETF ends above its initial level. Otherwise investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
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| Amount: | $3.95 million
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| Maturity: | Nov. 20, 2024
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| Coupon: | 7.5%, paid monthly, if each underlying fund closes at or above its 70% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if all of the ETFs never close below the trigger level during the life of the notes or the worst performing ETF ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically starting Feb. 15, 2024 at par if the price of each underlying fund is greater than or equal to its initial price on any monthly review date
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| Initial levels: | $366.42 for Invesco QQQ Trust, Series 1, $442.89 for SPDR S&P 500
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| Trigger levels: | $256.494 for Invesco QQQ Trust, Series 1, $310.023 for SPDR S&P 500, 70% of initial level
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48133Y3C6
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