By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% review notes due Feb. 22, 2022 linked to the lesser performing of the Financial Select Sector SPDR fund and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a call premium of 13% per year if each ETF closes at or above its initial price on any annual review date.
If the notes are not called, the payout at maturity will be par plus 10% unless either ETF finishes below 70% of its initial price, in which case investors will be fully exposed to the decline of the worse performing ETF.
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: | Review notes
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| Underlying ETFs: | SPDR S&P Biotech ETF and Financial Select Sector SPDR fund
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| Amount: | $500,000
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| Maturity: | Feb. 22, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 10% unless either ETF finishes below trigger value, in which case 1% loss for each 1% decline of worse performing ETF
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| Call: | At par plus 13% per year if each ETF closes at or above initial price on any annual review date
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| Initial prices: | $28.98 for financial ETF and $33.92 for oil & gas ETF
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| Trigger values: | $20.286 for financial ETF and $23.744 for oil & gas ETF; 70% of initial prices
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.7%
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| Cusip: | 48129H5L7
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