By Sarah Lizee
Olympia, Wash., May 28 – JPMorgan Chase Financial Co. LLC priced $1.75 million of autocallable contingent interest notes due May 25, 2023 tied to the least performing of the SPDR S&P Oil & Gas Exploration & Production ETF, the iShares MSCI EAFE ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.1% if each underlying asset closes at or above its 60% coupon barrier on the coupon review date for that quarter.
After one year, notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly autocall review date.
The payout at maturity will be par unless any underlier finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
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 assets: | SPDR S&P Oil & Gas Exploration & Production ETF, iShares MSCI EAFE ETF and Russell 2000 index
|
| Amount: | $1,754,000
|
| Maturity: | May 25, 2023
|
| Coupon: | 8.1% per year, payable quarterly if each asset closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each asset finishes at or above trigger value; otherwise, exposure to decline of least-performing asset from initial level
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial price on any quarterly autocall review date after one year
|
| Initial levels: | $64.51 for EAFE ETF, 1,524.963 for Russell and $29.24 for oil ETF
|
| Coupon barriers: | $38.706 for EAFE ETF, 914.9778 for Russell and $17.544 for oil ETF; 60% of initial levels
|
| Trigger values: | $38.706 for EAFE ETF, 914.9778 for Russell and $17.544 for oil ETF; 60% of initial levels
|
| Pricing date: | May 20
|
| Settlement date: | May 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.75%
|
| Cusip: | 48132CKZ5
|
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