By Taylor Fox
New York, Nov. 16 – JPMorgan Chase Financial Co. LLC priced $810,000 of autocallable contingent interest notes due Oct. 26, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, 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 quarterly coupon at an annual rate of 4.2% if each index closes at or above its interest barrier level, 80% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date on any quarterly review date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below its 80% trigger level, in which case investors will lose 1% for each 1% decline of the lesser performing index beyond the 20% buffer.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000, S&P 500
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| Amount: | $810,000
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| Maturity: | Oct. 26, 2023
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| Coupon: | 4.2% annualized, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless either index finishes below trigger level, in which case 1% loss for each 1% decline of lesser performing index beyond buffer
|
| Call: | At par plus coupon if each index closes at or above initial level on any quarterly review date after one year
|
| Initial levels: | 1,603.776 for Russell and 3,435.56 for S&P
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| Interest barrier/trigger levels: | 1,283.0208 for Russell, 2,748.448 for S&P; 80% of initial levels
|
| Pricing date: | Oct. 21
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| Settlement date: | Oct. 26
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48132PB86
|
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