By Sarah Lizee
Olympia, Wash., Sept. 11 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Dec. 13, 2021 linked to the least performing of the Financial Select Sector SPDR Fund and the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.7% per year if each ETF closes at or above its interest barrier value, 70% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each ETF closes at or above its initial share price on any quarterly review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any ETF finishes below its 70% trigger value, in which case investors will lose 1% for every 1% that the least-performing ETF finishes below its initial share price.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Financial Select Sector SPDR Fund and Invesco QQQ Trust, Series 1
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| Amount: | $1 million
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| Maturity: | Dec. 13, 2021
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| Coupon: | 8.7% per year, payable quarterly if each ETF closes at or above interest barrier value on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any ETF finishes below trigger value, in which case 1% loss for every 1% that least-performing ETF finishes below initial share price
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| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial share price on any quarterly review date other than the final one
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| Initial share prices: | $24.64 for Financial, $269.95 for Invesco
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| Interest barriers: | $17.248 for Financial, $188.965 for Invesco, 70% of initial levels
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| Trigger values: | $17.248 for Financial, $188.965 for Invesco, 70% of initial levels
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| Pricing date: | Sept. 8
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| Settlement date: | Sept. 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48132MW80
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