New York, April 11 – JPMorgan Chase Financial Co. LLC priced $1 million of callable contingent interest notes due April 3, 2025 linked to the Consumer Discretionary Select Sector SPDR Fund, the Industrial Select Sector SPDR Fund and the Materials Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.25%, paid quarterly, if each underlying fund closes at or above its 65% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly review date.
If the worst performing ETF finishes at or above its 65% downside threshold, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines from initial level.
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: | Callable contingent interest notes
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Underlying ETFs: | Consumer Discretionary Select Sector SPDR Fund, Industrial Select Sector SPDR Fund and Materials Select Sector SPDR Fund
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Amount: | $1 million
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Maturity: | April 3, 2025
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Coupon: | 11.25%, paid quarterly, if each underlying fund closes at or above its 65% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If worst performing ETF finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
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Call option: | At par on any quarterly review date
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Initial levels: | $144.39 for Consumer Discretionary Select Sector SPDR Fund, $99.65 for Industrial Select Sector SPDR Fund, $78.83 for Materials Select Sector SPDR Fund
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Downside thresholds: | $93.8535 for Consumer Discretionary Select Sector SPDR Fund, $64.7725 for Industrial Select Sector SPDR Fund, $51.2395 for Materials Select Sector SPDR Fund, 65% of initial levels
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Pricing date: | March 29
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Settlement date: | April 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 48133VLJ7
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