By Wendy Van Sickle
Columbus, Ohio, Oct. 7 – JPMorgan Chase Financial Co. LLC priced $33.55 million of trigger autocallable contingent yield notes due Sept. 29, 2026 linked to the SPDR S&P Regional Banking ETF and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 6.9% per year if each ETF closes at or above the coupon barrier, 70% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par of $10 plus the contingent coupon if each ETF closes at or above the initial level on any quarterly observation date after six months.
If the notes are not called and the final level is greater than or equal to the downside threshold level, 60% of the initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level of the worst performer.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETFs: | SPDR S&P Regional Banking ETF, SPDR S&P 500 ETF Trust
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| Amount: | $33,547,180
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| Maturity: | Sept. 29, 2026
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| Contingent coupon: | 6.9% annual rate, payable quarterly if each ETF closes at or above coupon barrier level on related quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus final coupon unless any ETF finishes below downside threshold level, in which case 1% loss for each 1% decline from initial price of the worst performer
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| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly observation date after six months
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| Initial price: | $65.91 for Regional Banking, $443.91 for SPDR S&P 500
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| Coupon barrier: | $46.14 for Regional Banking, $310.74 for SPDR S&P 500; 70% of initial price
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| Threshold level | $39.55 for Regional Banking, $266.35 for SPDR S&P 500; 60% of initial price
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| Pricing date: | Sept. 24
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| Settlement date: | Sept. 29
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48132X347
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