By Wendy Van Sickle
Columbus, Ohio, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $2.28 million of contingent coupon callable yield notes due Aug. 23, 2022 linked to the Financial Select Sector SPDR fund, the Energy Select Sector SPDR fund and the Industrial 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 quarterly coupon of 10.65% if each ETF closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
The notes will be callable in whole but not in part at par plus any coupon on any interest payment date other than the first and final review dates.
The payout at maturity will be par plus the final coupon unless any ETF finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing ETF.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon callable yield notes
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| Underlying ETFs: | Financial Select Sector SPDR fund, Energy Select Sector SPDR fund and Industrial Select Sector SPDR fund
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| Amount: | $2,278,000
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| Maturity: | Aug. 23, 2022
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| Coupon: | 10.65%, payable quarterly if each ETF closes at or above its coupon barrier level on observation date for quarter
|
| Price: | Par
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| Payout at maturity: | If any underlying finishes below trigger level, par plus return of the worst performing underlying; otherwise, par plus coupon
|
| Call option: | In whole but not in part at par plus any coupon on any interest payment date other than the first and final review dates
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| Initial levels: | $24.60 for Financial Select, $37.49 for Energy Select and $76.75 for Industrial Select
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| Coupon/trigger levels: | $14.76 for Financial Select, $22.494 for Energy Select and $46.05 for Industrial Select; 60% of initial levels
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48132M6K2
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