By Taylor Fox
New York, Feb. 16 – JPMorgan Chase Financial Co. LLC priced $1.11 million of autocallable contingent interest notes due July 26, 2022 linked to the lesser performing of the Ark Innovation ETF 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 monthly coupon at an annual rate of 13.8% if each asset closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any monthly review date after six months.
The payout at maturity will be par plus the final coupon unless either asset finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline from the lesser performer’s initial level.
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: | Ark Innovation ETF and S&P 500 index
|
| Amount: | $1,111,000
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| Maturity: | July 26, 2022
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| Coupon: | 13.8% annualized, payable monthly if each asset closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either asset finishes below trigger level, in which case 1% loss for each 1% decline of least-performing asset from initial level
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any monthly review date after six months
|
| Initial levels: | 3,853.07 for S&P and $144.81 for ETF
|
| Interest barrier: | 2,697.149 for S&P and $101.367 for ETF; 70% of initial levels
|
| Trigger levels: | 2,311.842 for S&P and $86.886 for ETF, 60% of initial levels
|
| Pricing date: | Jan. 21
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| Settlement date: | Jan. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132RKM1
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