By William Gullotti
Buffalo, N.Y., April 4 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due May 2, 2023 linked to the Energy Select Sector SPDR fund, 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 quarterly coupon of 10.25% per annum if the ETF closes at or above its 75% coupon barrier 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 share price on any quarterly call observation date.
The payout at maturity will be par unless the ETF finishes below 75% of its initial share price, in which case investors will be fully exposed to the losses of the ETF.
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: | Energy Select Sector SPDR fund
|
| Amount: | $500,000
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| Maturity: | May 2, 2023
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| Coupon: | 10.25% annual rate, payable quarterly if the ETF closes at or above the coupon barrier level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless the ETF finishes below 75% of its initial share price, in which case full exposure to losses of ETF from initial level
|
| Call: | Automatically at par if the ETF closes at or above its initial level on any quarterly call observation date
|
| Initial share price: | $48.44
|
| Coupon barrier level: | $36.33; 75% of initial share price
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| Trigger level: | $36.33; 75% of initial share price
|
| Pricing date: | May 3, 2021
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| Settlement date: | May 6, 2021
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.6%
|
| Cusip: | 48132T2Z8
|
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