By Wendy Van Sickle
Columbus, Ohio, July 12 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable yield notes due July 10, 2026 linked to an equally weighted basket of the S&P MidCap 400 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay quarterly coupons at an 7% annual rate, regardless of the performance of the basket.
If the basket closes above its initial level on any semiannual review date after one year, the notes will be called at par plus the coupon due.
At maturity if the basket finishes at or above its 80% buffer level, the payout will be par. Otherwise, investors will lose 1% for every 1.25% that the basket declines beyond 20%.
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 yield notes
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| Underlying basket: | S&P MidCap 400 index and Russell 2000 index, equal weights
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| Amount: | $1 million
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| Maturity: | July 10, 2026
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| Coupon: | 7% annual rate, payable quarterly
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| Price: | Par
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| Payout at maturity: | If basket finishes at or above its buffer level, par; otherwise, 1.25% loss for every 1% decline of basket beyond 20%
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| Call: | Automatically at par plus coupon if the basket closes at or above its initial level on any semiannual review date after one year
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| Initial level: | 2,328.0 for MidCap, 1,769.604 for Russell
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| Buffer level: | 80% of initial level
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| Pricing date: | July 7
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| Settlement date: | July 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48133LEQ1
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