By William Gullotti
Buffalo, N.Y., March 1 – JPMorgan Chase Financial Co. LLC priced $2.49 million of autocallable contingent interest notes due Feb. 26, 2027 linked to the least performing of the SPDR S&P Regional Banking ETF and the 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.
The notes will pay a contingent monthly coupon at an annual rate of 6.75% if each ETF closes at or above its interest barrier level, 80% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any monthly review date other than the first through eleventh and final dates.
The payout at maturity will be par plus the final coupon unless any ETF finishes below its 85% trigger value, in which case investors will lose 1% for each 1% decline of the worst performer beyond 15%.
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 Regional Banking ETF, SPDR S&P 500 ETF Trust
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| Amount: | $2,486,000
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| Maturity: | Feb. 26, 2027
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| Coupon: | 6.75% annualized, payable monthly if each ETF closes at or above interest barrier level on review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon coupon unless any ETF finishes below trigger level, in which case 1% loss for each 1% decline of least performing ETF below 15%
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| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any monthly review date other than the first through eleventh and final dates
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| Initial levels: | $71.88 for Banking, $421.95 for S&P ETF
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| Interest barrier: | $57.504 for Banking, $337.56 for S&P ETF; 80% of initial values
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| Trigger levels: | $61.098 for Banking, $358.6575 for S&P ETF; 85% of initial values
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.75%
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| Cusip: | 48133DFC9
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