By Wendy Van Sickle
Columbus, Ohio, March 16 – JPMorgan Chase Financial Co. LLC priced $6.73 million of 0% capped trigger gears due Aug. 26, 2022 linked to an unequally-weighted basket of funds, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket consists of the Materials Select Sector SPDR fund with a 20% weight, the Energy Select Sector SPDR fund with a 20% weight, the Financial Select Sector SPDR fund with a 35% weight and the Industrial Select Sector SPDR fund with a 25% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus double the basket return, capped at par plus 28.25%.
Investors will receive par if the basket declines by 20% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 20%.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Capped trigger gears
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| Underlying basket: | Materials Select Sector SPDR fund (20% weight), Energy Select Sector SPDR fund (20% weight), Financial Select Sector SPDR fund (35% weight) and Industrial Select Sector SPDR fund (25% weight)
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| Amount: | $6,730,160
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| Maturity: | Aug. 26, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus double any basket gain, capped at par plus 28.25%; par if basket declines by 20% or less; full exposure to basket’s decline from its initial level if it declines by more than 20%
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| Initial basket level: | $75.60 for Materials, $48.57 for Energy, $32.91 for Financial, $91.55 for Industrial
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| Downside threshold level: | 80% of initial level
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 26
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48132Q268
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