By Taylor Fox
New York, Feb. 8 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Jan. 4, 2024 linked to the least performing of the SPDR S&P 500 ETF trust, the iShares Russell 2000 ETF and the SPDR Dow Jones industrial average ETF trust, 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 6.5% if each fund closes at or above its interest barrier level, 70% of its initial level, on the review date for that period. Previously unpaid coupons will also be paid.
The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final coupon unless any fund finishes below its 70% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying funds: | SPDR S&P 500 ETF trust, iShares Russell 2000 ETF and SPDR Dow Jones industrial average ETF trust
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Amount: | $500,000
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Maturity: | Jan. 4, 2024
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Coupon: | 6.5% annualized, payable quarterly if each fund closes at or above interest barrier level on review date for that period; previously unpaid coupons will also be paid
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Price: | Par
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Payout at maturity: | Par plus any coupon due unless any fund finishes below trigger level, in which case 1% loss for each 1% decline of least performing fund from initial level
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Call: | Automatically at par plus contingent coupon if each fund closes at or above initial level on any quarterly review date
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Initial levels: | $371.46 for S&P, $194.43 for Russell and $303.46 for Dow
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Interest barrier levels: | $260.022 for S&P, $136.101 for Russell and $212.422 for Dow, 70% of initial levels
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Trigger levels: | $260.022 for S&P, $136.101 for Russell and $212.422 for Dow, 70% of initial levels
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Strike data: | Dec. 29
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Pricing date: | Jan. 5
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Settlement date: | Jan. 8
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.85%
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Cusip: | 48132REF3
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