By Wendy Van Sickle
Columbus, Ohio, May 4 – JPMorgan Chase Financial Co. LLC priced $3 million of contingent interest notes due April 20, 2023 linked to a WTI Crude Oil Futures Contract, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annualized rate of 10.1% if the commodity closes at or above its interest barrier level, 50% of its initial level, on the related quarterly review date.
The payout at maturity will be par unless the commodity finishes below its 50% trigger level, in which case investors will be fully exposed to any ETF decline.
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 commodity: | WTI Crude Oil Futures Contract
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| Amount: | $3 million
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| Maturity: | April 20, 2023
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| Coupon: | 10.1% annualized, payable each quarter that commodity closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless commodity falls below trigger value, in which case full exposure to losses
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| Initial value: | $103.79
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| Interest barrier/trigger value: | $51.895, 50% of initial value
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| Pricing date: | April 22
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| Settlement date: | April 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.2%
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| Cusip: | 48133DE89
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