New York, Nov. 22 – JPMorgan Chase Financial Co. LLC priced $350,000 of contingent interest notes due Oct. 3, 2023 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon if the stock closes at or above its 80% interest barrier on the related observation date. The coupon rate is 7.2% per year, or 3.6% over the term of the notes.
If final share price is greater than or equal to the 85% buffer level, the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the ETF declines beyond 15%.
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: | Contingent interest notes
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $350,000
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| Maturity: | Oct. 3, 2023
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| Coupon: | Notes pay quarterly contingent coupon if stock closes at or above interest barrier on related observation date; coupon rate is 7.2% per year, or 3.6% over term of notes
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to buffer level, par; 1% loss for every 1% that ETF declines beyond 15%
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| Initial share price: | $395.60
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| Interest barrier: | $316.48, or 80% of initial share price
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| Buffer level: | $336.26, or 85% of initial share price
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| Buffer: | 15%
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| Strike date: | March 28
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| Pricing date: | March 30
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| Settlement date: | April 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48133VLX6
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