By William Gullotti
Buffalo, N.Y., March 19 – JPMorgan Chase Financial Co. LLC priced $4.4 million of 7.55% trigger callable yield notes due May 27, 2025 linked to the iShares Russell 2000 ETF and the SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes are callable at par on any coupon payment date after three months.
The payout at maturity will be par of $10 unless the ETF finishes below its 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the ETF.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger callable yield notes
|
| Underlying funds: | iShares Russell 2000 ETF, SPDR S&P MidCap 400 ETF Trust
|
| Amount: | $4,398,300
|
| Maturity: | May 27, 2025
|
| Coupon: | 7.55% per year, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless any ETF finishes below downside threshold, in which case 1% loss for each 1% decline of worst performing ETF from initial level
|
| Call option: | At par on any coupon date starting after three months
|
| Initial levels: | $197.94 for iShares, $513.99 for SPDR
|
| Downside thresholds: | $138.56 for iShares, $359.79 for SPDR; 70% of initial levels
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Underwriter: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48131D698
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