By William Gullotti
Buffalo, N.Y., April 14 – JPMorgan Chase Financial Co. LLC priced $1.33 million of 0% autocallable barrier notes due April 11, 2025 linked to the VanEck Vectors Gold Miners ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an annualized 17.9% call premium if all underliers close at or above their initial levels on any quarterly review date after six months.
If the notes are not called and all underliers finish at or above their initial levels, the payout at maturity will be par plus the return of the least performing underlier.
If the worst performer declines but finishes above 60% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level of the worst performer.
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 barrier notes
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| Underlying assets: | VanEck Vectors Gold Miners ETF, S&P 500 index
|
| Amount: | $1,333,000
|
| Maturity: | April 11, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If all underliers finish positive, par plus return of worst performer; par if at least one underlier declines but worst performer finishes at or above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the worst performer
|
| Call: | At par plus annualized premium of 17.9% if each underlier closes at or above initial level on any quarterly review date after six months
|
| Initial levels: | $39.67 for ETF, 4,488.28 for S&P
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| Trigger levels: | $23.802 for ETF, 2,692.968 for S&P; 60% of initial levels
|
| Pricing date: | April 8
|
| Settlement date: | April 13
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48133FGS8
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