By Wendy Van Sickle
Columbus, Ohio, April 5 – JPMorgan Chase Financial Co. LLC priced $903,000 of autocallable contingent interest notes due Sept. 22, 2022 linked to the lesser performing of the Energy Select Sector SPDR fund and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 8% per year if each ETF closes at or above its interest barrier, 60% of its initial level, on the review date for that period.
Additionally, the notes will be automatically called at par plus any contingent coupon if each ETF closes at or above their initial levels on any monthly review date other than the first, second and final ones.
If the notes have not been called, the payout at maturity will be par plus any coupons due unless any ETF finishes below its trigger level, 60% of its level, 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETFs: | Energy Select Sector SPDR fund and Financial Select Sector SPDR fund
|
| Amount: | $903,000
|
| Maturity: | Sept. 22, 2022
|
| Coupon: | 8% per year, payable monthly if each ETF closes at or above interest barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupons due unless any ETF finishes below trigger level, in which case 1% loss for every 1% that least-performing ETF finishes below initial share price
|
| Call: | Automatically at par plus contingent coupons if each ETF closes at or above initial level on any monthly review date other than the first, second and final ones
|
| Initial levels: | $49.53 for energy fund and $34.22 for financial fund
|
| Interest barrier/triggers: | $29.718 for energy fund and $20.532 for financial fund; 60% of initial levels
|
| Pricing date: | March 19
|
| Settlement date: | March 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132TDJ2
|
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