By Wendy Van Sickle
Columbus, Ohio, Dec. 1 – JPMorgan Chase Financial Co. LLC priced $510,000 of autocallable contingent interest notes due Nov. 24, 2023 tied to the least performing of the Materials Select Sector SPDR fund and the Industrial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.5% if each underlying asset closes at or above its 65% coupon barrier on the coupon review date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly autocall review date other than the first and final review dates.
The payout at maturity will be par unless any underlier finishes below its 65% trigger level, in which case investors will be exposed to any losses of the worst performing fund.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | Materials Select Sector SPDR fund and Industrial Select Sector SPDR fund
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| Amount: | $510,000
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| Maturity: | Nov. 24, 2023
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| Coupon: | 6.5%, payable quarterly if each underlying asset closes at or above its coupon barrier on the coupon review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any underlier finishes below its trigger level, in which case investors will be exposed to any losses of the worst performing fund
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial price on any quarterly autocall review date other than the first and final review dates
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| Initial levels: | $69.76 for Materials and $88.66 for Industrial
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| Coupon barriers: | $45.344 for Materials and $56.329 for Industrial, 65% of initial levels
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| Trigger values: | $45.344 for Materials and $56.329 for Industrial, 65% of initial levels
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48132P3C6
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