New York, July 11 – JPMorgan Chase Financial Co. LLC priced $10 million of autocallable contingent interest notes due June 27, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.53%, payable quarterly, if the ETF closes at or above its 90% trigger level on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically if the ETF closes at or above its initial level starting Sept. 25 at par and on any subsequent quarterly review date.
At maturity the payout will be par if the ETF never closes below the 90% trigger level during the life of the notes or the ETF ends above its initial level. Otherwise investors will be fully exposed to the decline of the ETF.
The notes are guaranteed by JPMorgan Chase & Co.
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 ETF: | SPDR S&P 500 ETF Trust (Ticker: SPY)
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| Amount: | $10 million
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| Maturity: | June 27, 2024
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| Coupon: | 10.53%, payable quarterly if the ETF closes at or above its 90% trigger level on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if the ETF never closes below the trigger level during the life of the notes or the ETF ends above its initial level, otherwise investors will be fully exposed to the decline in the ETF
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| Call: | Automatically starting Sept. 25 at par and on any subsequent quarterly review date if ETF closes at or above initial level
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| Initial level: | $433.21
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| Trigger level: | $389.889, 90% of initial level
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| Pricing date: | June 26
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| Settlement date: | June 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.1%
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| Cusip: | 48133XK96
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