By Wendy Van Sickle
Columbus, Ohio, Dec. 18 – JPMorgan Chase Financial Co. LLC priced $2.75 million of autocallable contingent interest notes due Dec. 16, 2022 linked to the least performing of the SPDR S&P 500 ETF trust, the iShares Russell 2000 ETF and the SPDR Euro Stoxx 50 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each six months, the notes will pay a contingent coupon at the rate of 7.35% per year if each ETF closes at or above its interest barrier, 65% of its initial level, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each ETF closes at or above its initial level on any review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any ETF finishes below its 60% trigger value, in which case investors will lose 1% for every 1% that the least-performing ETF finishes below its 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 ETFs | SPDR S&P 500 ETF trust, iShares Russell 2000 ETF and SPDR Euro Stoxx 50 ETF
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| Amount: | $2.75 million
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| Maturity: | Dec. 16, 2022
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| Coupon: | 7.35% per year, payable semiannually if each ETF closes at or above interest barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any ETF finishes below trigger value, in which 1% loss for every 1% that least-performing ETF finishes below initial level
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| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any review date other than final date
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| Initial levels: | $151.78 for Russell, $266.75 for S&P 500 and $41.08 for Euro Stoxx 50
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| Interest barriers: | $98.657 for Russell, $173.3875 for S&P 500 and $26.702 for Euro Stoxx 50, or 65% of initial levels
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| Triggers: | $91.068 for Russell, $160.05 for S&P 500 and $24.648 for Euro Stoxx 50, or 60% of initial levels
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| Pricing date: | Dec. 13
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| Settlement date: | Dec. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48129HVJ3
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