By Wendy Van Sickle
Columbus, Ohio, April 5 – JPMorgan Chase Financial Co. LLC priced $3.3 million of autocallable contingent interest notes due March 22, 2024 linked to the ARK Innovation ETF, 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 monthly coupon of 11.25% per annum if the ETF closes at or above its 60% coupon trigger level on the determination date for that period.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless the ETF finishes below 50% of its initial level, in which case investors will be exposed to losses
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | ARK Innovation ETF
|
| Amount: | $3,299,000
|
| Maturity: | March 22, 2024
|
| Contingent coupon: | 11.25% annualized, payable monthly if the ETF closes at or above the coupon trigger level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below 50% of its initial level, in which case exposure to losses
|
| Call: | Automatically at par plus contingent coupon if the ETF closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | $122.36
|
| Coupon trigger: | $73.416, 60% of initial level
|
| Trigger level: | $61.18, 50% of initial level
|
| Pricing date: | March 19
|
| Settlement date: | March 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.94856%
|
| Cusip: | 48132TCD6
|
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