By William Gullotti
Buffalo, N.Y., Sept. 15 – JPMorgan Chase Financial Co. LLC priced $1.15 million of autocallable contingent interest notes due Dec. 30, 2022 linked to the least performing of the Invesco Solar ETF and the Energy Select Sector SPDR Fund, 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 at an annual rate of 8.5% if each ETF closes at or above its interest barrier level, 60% 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 monthly review date other than the first, second and final dates.
If the notes have not been called, the payout at maturity will be par unless either ETF closes below its 60% trigger value during the life of the notes and either ETF finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its 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: | Invesco Solar ETF, Energy Select Sector SPDR Fund
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| Amount: | $1,153,000
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| Maturity: | Dec. 30, 2022
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| Coupon: | 8.5% annualized, payable monthly 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 unless either ETF closes below its trigger value during the life of the notes and either ETF finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any monthly review date other than the first, second and final ones
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| Initial levels: | $85.57 for Invesco, $55.34 for Energy
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| Interest barrier: | $51.342 for Invesco, $33.204 for Energy; 60% of initial values
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| Trigger levels: | $51.342 for Invesco, $33.204 for Energy; 60% of initial values
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.01583%
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| Cusip: | 48132UQP1
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