By Wendy Van Sickle
Columbus, Ohio, May 17 – JPMorgan Chase Financial Co. LLC priced $2.04 million of autocallable contingent interest notes due May 18, 2023 linked to the lesser performing of the iShares Russell 2000 ETF and the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 7% if each ETF closes at or above its 70% coupon barrier 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 review date other than the final date.
The payout at maturity will be par unless either ETF falls by more than 35%, in which case investors will be fully exposed to any losses of the worse 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 contingent interest notes
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| Underlying ETFs: | iShares Russell 2000 ETF, SPDR S&P 500 ETF trust
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| Amount: | $2.04 million
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| Maturity: | May 18, 2023
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| Coupon: | 7% annualized, payable semiannually if each ETF closes at or above 70% coupon barrier on review date
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| Price: | Par
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| Payout at maturity: | Par unless either ETF falls by more than 35%, in which case 1% loss for each 1% decline of worse performing ETF from initial level
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| Call: | At par plus contingent coupon if each ETF closes at or above initial level on any review date other than final date
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| Initial levels: | $159.26 for Russell ETF and $271.10 for S&P ETF
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| Coupon barriers: | $111.482 for Russell ETF and $189.77 for S&P ETF, 70% of initial levels
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| Trigger values: | $103.519 for Russell ETF and $176.215 for S&P ETF, 65% of initial levels
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| Pricing date: | May 15
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| Settlement date: | May 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.35%
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| Cusip: | 48129MUA2
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