New Issue: JPMorgan prices $305,000 digital barrier notes linked to ETFs

By Kiku Steinfeld

Chicago, Sept. 20 – JPMorgan Chase Financial Co. LLC priced $305,000 of 0% digital barrier notes due July 28, 2022 linked to the least performing of the SPDR Gold Trust and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.

If the least performing ETF finishes at or above its initial level, the payout at maturity will be par plus 10.5%.

If the worst performer falls but finishes at or above 70% of its initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the least performer from its initial level.

The notes are guaranteed by JPMorgan Chase & Co.

The agent is J.P. Morgan Securities LLC.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Digital barrier notes
Underlying ETFs:	SPDR Gold Trust and iShares Silver Trust
Amount:	$305,000
Maturity:	July 28, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the lesser performing ETF finishes at or above initial level, par plus 10.5%; if any index falls below its initial level but finishes at or above its 70% barrier level, par; otherwise, full exposure to the decline of the worst performer from its initial level
Initial levels:	$166.59 for gold, $24.18 for silver
Barrier levels:	$116.613 for gold, $16.926 for silver, 70% of initial levels
Pricing date:	June 25
Settlement date:	June 30
Agent:	J.P. Morgan Securities LLC
Fees:	3.5%
Cusip:	48132UNW9

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