By Taylor Fox
New York, Aug. 25 – JPMorgan Chase Financial Co. LLC priced $4 million of autocallable contingent interest notes due Feb. 11, 2028 linked to the least performing of the SPDR S&P 500 ETF trust, the iShares Russell 2000 ETF and the iShares MSCI Emerging Markets ETF, 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 10.75% if each fund closes at or above its interest barrier level, 65% of its initial level, on the review date for that period.
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 after one year.
The payout at maturity will be par plus the final coupon unless any fund finishes below its 65% 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
|
| 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 iShares MSCI Emerging Markets ETF
|
| Amount: | $4 million
|
| Maturity: | Feb. 11, 2028
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| Coupon: | 10.75% annualized, payable quarterly if each fund closes at or above interest barrier level on review date for that period
|
| 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
|
| Call: | Automatically at par plus contingent coupon if each fund closes at or above initial level on any quarterly review date after one year
|
| Initial levels: | $56.34 for MSCI, $390.51 for S&P and $151.74 for Russell
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| Interest barrier levels: | $36.621 for MSCI, $253.8315 for S&P and $98.631 for Russell, 65% of initial levels
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| Trigger levels: | $36.621 for MSCI, $253.8315 for S&P and $98.631 for Russell, 65% of initial levels
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48132RUB4
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