By Wendy Van Sickle
Columbus, Ohio, Dec. 7 – JPMorgan Chase Financial Co. LLC priced $1.38 million of autocallable contingent interest notes due Dec. 3, 2021 linked to the lesser performing of the SPDR S&P 500 ETF trust and the iShares Russell 2000 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Every six months, the notes will pay a contingent coupon at an annual rate of 7% if each ETF closes at or above its trigger value, 60% of its initial share price, on the review date for that semiannual period.
The notes will be automatically called at par plus the contingent coupon if each ETF closes at or above its initial share price on any semiannual review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless either ETF finishes below its trigger value, in which case investors will lose 1% for every 1% that the lesser-performing ETF finishes below its initial share price.
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 funds: | SPDR S&P 500 ETF trust and iShares Russell 2000 exchange-traded fund
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| Amount: | $1,375,000
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| Maturity: | Dec. 3, 2021
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| Coupon: | 7% per year, payable semiannually if each index closes at or above trigger value each day that period
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| Price: | Par
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| Payout at maturity: | Par unless either fund finishes below trigger value, in which case 1% loss for every 1% that lesser-performing fund finishes below initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any review date either than first and final review dates
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| Initial index levels: | $220.38 for SPDR S&P 500 ETF trust and $131.61 for iShares Russell 2000 ETF
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| Trigger values: | $132.228 for SPDR S&P 500 ETF trust and $78.966 for iShares Russell 2000 ETF; 60% of initial levels
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 46646QBA2
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