By Marisa Wong
Morgantown, W.Va., Aug. 16 – JPMorgan Chase Financial Co. LLC priced $11.32 million of trigger autocallable contingent yield notes due Aug. 17, 2026 linked to the lesser performing of the Russell 2000 index and the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 7.7% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
After one year, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its 50% downside threshold level, in which case investors will be fully exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | MSCI EAFE and Russell 2000
|
| Amount: | $11,315,390
|
| Maturity: | Aug. 17, 2026
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| Coupon: | 7.7%, payable quarterly if indexes close at or above coupon barrier level on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
|
| Call: | After one year, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
| Initial levels: | 1,710.73 for MSCI EAFE and 1,229.820 for Russell
|
| Coupon barrier: | 1,197.51 for MSCI EAFE and 860.874 for Russell, 70% of initial levels
|
| Downside thresholds: | 855.37 for MSCI EAFE and 614.910 for Russell; 50% of initial levels
|
| Pricing date: | Aug. 12
|
| Settlement date: | Aug. 17
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 3.5%
|
| Cusip: | 46646X860
|
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