By Kiku Steinfeld
Chicago, Dec. 13 – JPMorgan Chase Financial Co. LLC priced $872,000 of autocallable contingent interest notes due Oct. 19, 2023 linked to the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.25%, paid monthly, if the underlying fund closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par starting July 14 if the price of the underlying fund is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the ETF closes below its 60% trigger level in which case investors will be fully exposed to the decline of the ETF.
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 contingent interest notes
|
| Underlying ETF: | ARK Innovation ETF (Ticker: ARKK)
|
| Amount: | $872,000
|
| Maturity: | Oct. 19, 2023
|
| Coupon: | 16.25%, paid monthly, if the underlying fund closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the ETF closes below its trigger level in which case investors will be fully exposed to the decline in the ETF
|
| Call: | Automatically at par starting July 14 if the price of the underlying fund is greater than or equal to its initial price and on any subsequent monthly review date
|
| Initial level: | $58.99
|
| Trigger level: | $35.394, 60% of initial level
|
| Coupon barrier: | $41.293, 70% of initial level
|
| Pricing date: | April 14
|
| Settlement date: | April 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.11282%
|
| Cusip: | 48133FBU8
|
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