By William Gullotti
Buffalo, N.Y., Dec. 7 – JPMorgan Chase Financial Co. LLC priced $2.13 million of autocallable contingent interest notes due May 4, 2023 linked to the ARK Innovation 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 monthly coupon of 10% per annum if the ETF closes at or above its 70% coupon barrier level on the determination date for that period.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial share price on any monthly call observation date other than the first, second and final dates.
The payout at maturity will be par plus the final coupon if the ETF finishes at or above 70% of its initial share price. Otherwise, investors will be exposed to the ETF’s decline from its initial share price.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | ARK Innovation ETF
|
| Amount: | $2,128,000
|
| Maturity: | May 4, 2023
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| Contingent coupon: | 10% annualized, payable monthly if the ETF closes at or above the coupon barrier level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if ETF finishes at or above buffer level; otherwise, investors will be exposed to the ETF’s decline from its initial share price
|
| Call: | Automatically at par plus coupon if the ETF closes at or above initial share price on any monthly call observation date other than the first, second and final ones
|
| Initial share price: | $121.28
|
| Coupon barrier: | $84.896; 70% of initial share price
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| Buffer level: | $84.896; 70% of initial share price
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.44702%
|
| Cusip: | 48132YER2
|
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