By Wendy Van Sickle
Columbus, Ohio, May 10 – JPMorgan Chase Financial Co. LLC priced $10 million of autocallable contingent interest notes due May 10, 2022 linked to the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly at an annualized rate of 12.8% if the ETF closes above its buffer level on the review date for that quarter, in which case any previously unpaid coupon will also be paid.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par if the ETF closes at or above its initial level on any review date other than the final one.
The payout at maturity will be par plus the coupon unless the ETF finishes below its buffer level, 75% of its initial level, in which case investors will lose 1.33333% for each 1% decline beyond 25%.
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 contingent interest notes
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| Underlying ETF: | VanEck Vectors Oil Services ETF
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| Amount: | $10 million
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| Maturity: | May 10, 2022
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| Coupon: | 12.8%, payable quarterly if ETF closes above buffer level on review date, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless the ETF finishes below its buffer level, in which case 1.33333% loss for each 1% decline beyond 25%
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| Call: | At par if the ETF closes at or above its initial level on any review date other than the final one
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| Initial level: | $153.5325
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| Buffer level: | $139.408, 75% of initial level
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| Pricing date: | May 6
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| Settlement date: | May 11
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
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| Cusip: | 48132TM52
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