By Wendy Van Sickle
Columbus, Ohio, Aug. 2 – JPMorgan Chase Financial Co. LLC priced $235,000 of autocallable contingent interest notes due June 6, 2024 linked to the least performing of the ARK Autonomous Technology & Robotics ETF and the ARK Genomic Revolution 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 quarterly coupon at an annual rate of 8% if each ETF closes at or above its interest barrier level, 65% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par plus the final coupon unless any ETF finishes below its 65% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
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: | ARK Autonomous Technology & Robotics ETF, ARK Genomic Revolution ETF
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Amount: | $235,000
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Maturity: | June 6, 2024
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Coupon: | 8% annualized, payable quarterly if each ETF closes at or above interest barrier level on review date for that period
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Price: | Par
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Payout at maturity: | Par plus any coupon unless any ETF finishes below trigger level, in which case 1% loss for each 1% decline of least performing ETF from initial level
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Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any quarterly review date other than the final one
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Initial levels: | $82.12 for ARK Autonomous, $81.07 for ARK Genomic Revolution
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Interest barrier: | $53.378 for ARK Autonomous, $52.6955 for ARK Genomic Revolution; 65% of initial values
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Trigger levels: | $53.378 for ARK Autonomous, $52.6955 for ARK Genomic Revolution; 65% of initial values
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Pricing date: | June 3
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Settlement date: | June 8
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.05%
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Cusip: | 48132UKU6
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