By Tali Rackner
Minneapolis, May 14 – JPMorgan Chase Financial Co. LLC priced $565,000 of 0% review notes due April 25, 2022 linked to the lesser-performing of the SPDR S&P Biotech exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a call premium of 17% per year if each fund closes at or above its initial level on any review date.
If the notes are not called and each fund finishes at or above its 60% trigger value, the payout at maturity will be par plus the contingent minimum return of10%. Otherwise, investors will be fully exposed to the losses of the lesser-performing fund.
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: | Review notes
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| Underlying funds: | SPDR S&P Biotech ETF, SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $565,000
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| Maturity: | April 25, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each fund finishes at or above trigger value, par plus 10%; otherwise full exposure to losses of lesser-performing fund
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| Call: | At par plus 17% per year if each fund closes at or above initial level on any review date
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| Initial levels: | $88.93 for biotech ETF, $38.86 for oil & gas ETF
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| Trigger levels: | $53.358 for biotech ETF, $23.316 for oil & gas ETF; 60% of initial levels
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| Pricing date: | April 20
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| Settlement date: | April 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48129MMV5
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