By Kiku Steinfeld
Chicago, Oct. 5 – JPMorgan Chase Financial Co. LLC priced $975,000 of 0% autocallable buffered return enhanced notes due Sept. 30, 2024 linked to the lesser performing of the iShares Silver trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 14% per year if each ETF closes at or above its initial level on any of three annual call dates.
If each ETF finishes above its initial level, the payout at maturity will be par plus 1.5 times the gain of the worse performing ETF.
If either ETF falls but neither falls by more than the 20% buffer, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse performing ETF beyond the buffer.
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 buffered return enhanced notes
|
| Underlying ETFs: | VanEck Vectors Gold Miners ETF and iShares Silver trust
|
| Amount: | $975,000
|
| Maturity: | Sept. 30, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus a premium of 14% per year if each ETF closes at or above initial level on Oct. 4, 2021, Sept. 26, 2022 or Sept. 25, 2023
|
| Payout at maturity: | If each ETF finishes above its initial level, par plus 1.5 times the gain of the worse performing ETF; if either ETF falls by up to 20%, par; otherwise, 1% loss for each 1% decline of worse performing ETF beyond buffer
|
| Initial ETF levels: | $38.42 for gold, $21.30 for silver
|
| Buffer levels: | 80% of initial levels
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.54897%
|
| Cusip: | 48132MP62
|
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