By Taylor Fox
New York, Nov. 16 – JPMorgan Chase Financial Co. LLC priced $1.41 million of 0% autocallable buffered notes due Oct. 31, 2024 linked to the lesser performing of the SPDR Gold Trust and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If both funds close at or above their initial levels on any annual call observation date, the notes will be automatically called at par plus an annual call premium of 10.25%.
If the notes are not called and both fund’s returns are zero or positive, the payout at maturity will be par plus return of the worst performer.
If the worst performing fund falls by up to 20%, the payout will be par. If the fund falls by more than 20%, investors will lose 1% for every 1% decline of the worst performer beyond 20%.
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 buffered notes
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Underlying funds: | SPDR Gold Trust and the iShares Silver Trust
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Amount: | $1,405,000
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Maturity: | Oct. 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If both funds returns are zero or positive, par plus return of worst performer; if worst performing fund falls by up to 20%, par; if worst performing fund falls by more than 20%, 1% loss for every 1% decline beyond 20% of worst performer
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Call: | Automatically at par plus an annual 10.25% call premium if both funds close at or above initial levels on annual call observation ate
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Initial levels: | $179.02 for Gold and $22.73 for Silver
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Buffer levels: | 80% of initial levels
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Pricing date: | Oct. 27
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Settlement date: | Oct. 30
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Agent: | JPMorgan Securities LLC
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Fees: | 3.62135%
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Cusip: | 48132PJY1
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