Chicago, Feb. 7 – JPMorgan Chase Financial Co. LLC priced $1.98 million of autocallable contingent interest notes due Oct. 20, 2022 linked to the least performing of the iShares Global Clean Energy ETF and the Invesco Solar ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 18% if each ETF closes at or above its interest barrier level, 60% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any monthly review date after three months.
The payout at maturity will be par plus the final coupon unless any ETF finishes below its 60% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
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 contingent interest notes
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Underlying ETFs: | iShares Global Clean Energy ETF and the Invesco Solar ETF
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Amount: | $1,979,000
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Maturity: | Oct. 20, 2022
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Coupon: | 18% annualized, payable monthly if each ETF closes at or above interest barrier level on review date for that period
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Price: | Par
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Payout at maturity: | Par plus coupon unless any ETF finishes below trigger level, in which case 1% loss for each 1% decline of least performing ETF from initial level
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Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any monthly review date after three months
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Initial levels: | $23.05 for iShares and $83.24 for Invesco
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Interest barrier: | $13.83 for iShares and $49.944 for Invesco, 60% of initial values
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Trigger levels: | $13.83 for iShares and $49.944 for Invesco, 60% of initial values
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Pricing date: | April 15
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Settlement date: | April 20
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.44227%
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Cusip: | 48132TQX7
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