By Sarah Lizee
Olympia, Wash., Nov. 28 – JPMorgan Chase Financial Co. LLC priced $7.5 million of 0% step-down trigger autocallable notes due Nov. 26, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
After one year, the notes will be automatically called at par plus a call return of 10% per year if the ETF closes at or above its initial level on any quarterly observation date or its 57.5% downside threshold on the final observation date.
If the notes are not called, investors will lose 1% for every 1% that the ETF’s final level is less than its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Step-down trigger autocallable notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $7,503,250
|
| Maturity: | Nov. 26, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the notes are not called, investors will lose 1% for every 1% that the ETF’s final level is less than its initial level
|
| Call: | After one year, at par plus a call return of 10% per year if the ETF closes at or above its initial level on any quarterly observation date or its 57.5% downside threshold on the final observation date
|
| Initial value: | $33.70
|
| Downside threshold: | $19.38, 57.5% of initial level
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 27
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48130V293
|
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