By William Gullotti
Buffalo, N.Y., June 23 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Nov. 17, 2022 linked to the least performing of the Energy Select Sector SPDR Fund and the Invesco Solar 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 at an annual rate of 10% if each ETF closes at or above its interest barrier level, 55% 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.
The payout at maturity will be par plus the final coupon unless any ETF finishes below its 55% 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: | Energy Select Sector SPDR Fund and the Invesco Solar ETF
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| Amount: | $1,004,000
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| Maturity: | Nov. 17, 2022
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| Coupon: | 10% 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 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 monthly review date other than the first, second and final
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| Initial levels: | $53.49 for SPDR, $72.54 for Invesco
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| Interest barrier: | $29.4195 for SPDR, $39.897 for Invesco; 55% of initial values
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| Trigger levels: | $29.4195 for SPDR, $39.897 for Invesco; 55% of initial values
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| Pricing date: | May 14
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| Settlement date: | May 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.88982%
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| Cusip: | 48132TH74
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