New Issue: JPMorgan prices $815,000 of review notes on SPDR Gold, iShares Silver

By Devika Patel

Knoxville, Tenn., Oct. 11 – JPMorgan Chase & Co. priced $815,000 of 0% review notes due Oct. 12, 2020 linked to the SPDR Gold Trust and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annualized call premium of 8.8% per year if each trust closes above its initial level on any annual call review date.

If the notes are not called, the payout at maturity will be par plus 10% if each trust finishes at or above 70% of its initial level. If either trust finishes below the 70% trigger level, investors will lose 1% for each 1% decline of the worse performing trust.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Review notes
Underlying trusts:	SPDR Gold Trust and iShares Silver Trust
Amount:	$815,000
Maturity:	Oct. 12, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 10% if each trust finishes at or above 70% of its initial level, otherwise 1% loss for each 1% decline
Call:	At par plus an annualized premium of 8.8% if each trust closes at or above its initial level on any annual review date
Initial levels:	$119.74 for Gold, $16.60 for Silver
Trigger levels:	$83.818 for Gold, $11.62 for Silver, 70% of initial levels
Pricing date:	Oct. 7
Settlement date:	Oct. 14
Agent:	J.P. Morgan Securities LLC
Fees:	2.4%
Cusip:	46646EG97

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