By William Gullotti
Buffalo, N.Y., June 30 – JPMorgan Chase Financial Co. LLC priced $600,000 of autocallable contingent interest notes due March 29, 2022 linked to the least performing of the VanEck Vectors Gold Miners ETF and the VanEck Vectors Junior Gold Miners 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 at an annual rate of 4.5% if each ETF closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any monthly review date other than the first, second and final dates.
If the notes have not been called, the payout at maturity will be par unless either ETF closes below its 65% trigger value during the life of the notes and either ETF finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing ETF finishes below its initial level.
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 ETFs: | VanEck Vectors Gold Miners ETF, VanEck Vectors Junior Gold Miners ETF
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| Amount: | $600,000
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| Maturity: | March 29, 2022
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| Coupon: | 4.5% annualized, payable monthly if each ETF closes at or above interest barrier level on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either ETF closes below its 65% trigger value during the life of the notes and either ETF finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing ETF finishes below its initial level
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| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any monthly review date other than the first, second and final dates
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| Initial levels: | $34.44 for Gold Miners, $47.87 for Junior Miners
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| Interest barrier: | $24.108 for Gold Miners, $33.509 for Junior Miners; 70% of initial values
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| Trigger levels: | $20.664 for Gold Miners, $28.722 for Junior Miners; 65% of initial values
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| Pricing date: | June 24
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| Settlement date: | June 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.6%
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| Cusip: | 48132URP0
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