By William Gullotti
Buffalo, N.Y., July 16 – JPMorgan Chase Financial Co. LLC priced $436,000 of 0% autocallable barrier notes due July 18, 2023 linked to the performance of the SPDR S&P 500 ETF Trust, the iShares Russell 2000 ETF and the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an annualized 10.5% premium if all ETFs finish above their initial levels on July 13, 2022.
If the notes are not called and all ETFs close above their initial levels, the payout at maturity will be par plus the return of the worst performer.
If the worst performer declines but finishes above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing ETF.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Autocallable barrier notes
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| Underlying funds: | SPDR S&P 500 ETF Trust, Invesco QQQ Trust, Series 1, iShares Russell 2000 ETF
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| Amount: | $436,000
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| Maturity: | July 18, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all ETFs finish positive, par plus return of worst performer; par if at least one ETF declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing ETF
|
| Call: | At par plus annualized premium of 10.5% if each ETF finishes above initial level on July 13, 2022
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| Initial levels: | $435.59 for S&P ETF, $362.42 for QQQ, $222.30 for iShares
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| Trigger levels: | $304.913 for S&P ETF, $253.694 for QQQ, $155.61 for iShares; 70% of initial levels
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| Pricing date: | July 13
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| Settlement date: | July 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.85%
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| Cusip: | 48132UZY2
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