By Kiku Steinfeld
Chicago, May 13 – JPMorgan Chase Financial Co. LLC priced $2.06 million of callable contingent interest notes due April 26, 2024 linked to the least performing of the SPDR S&P Biotech ETF and the Technology 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 biannual coupon at an annual rate of 8.25% 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 are callable at par on any biannual review date.
The payout at maturity will be par 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying ETFs: | SPDR S&P Biotech ETF and Technology Select Sector SPDR fund
|
| Amount: | $2,058,000
|
| Maturity: | April 26, 2024
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| Coupon: | 8.25% annualized, payable biannually if each ETF closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any ETF finishes below trigger level, in which case 1% loss for each 1% decline of least performing ETF from initial level
|
| Call option: | At par on any biannual review date
|
| Initial levels: | $134.30 for SPDR S&P Biotech and $142.70 for Technology Select Sector SPDR
|
| Interest barrier: | $87.295 for SPDR S&P Biotech and $92.755 for Technology Select Sector SPDR, 65% of initial values
|
| Trigger levels: | $87.295 for SPDR S&P Biotech and $92.755 for Technology Select Sector SPDR, 65% of initial values
|
| Pricing date: | April 23
|
| Settlement date: | April 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132TQC3
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