By William Gullotti
Buffalo, N.Y., Dec. 12 – JPMorgan Chase Financial Co. LLC priced $35.56 million of autocallable contingent interest and contingent leveraged notes due Oct. 26, 2026 linked to the S&P 500 Low Volatility High Dividend index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
For the first year of the notes, investors will receive a contingent monthly coupon at an annual rate of 18.37% unless the index closes below the 90% trigger value on any day during the life of the notes, in which case no coupon will be payable for that review period or for the remaining coupon payment dates.
If a trigger event has not occurred, the notes will be called at par plus the final coupon on Oct. 24, 2023.
If the notes are not called, meaning a trigger event has occurred, the payment at maturity will be par plus 1.11111 times the sum of the index return and 10%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest and contingent leveraged notes
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| Underlying index: | S&P 500 Low Volatility High Dividend index
|
| Amount: | $35,563,000
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| Maturity: | Oct. 26, 2026
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| Coupon: | 18.37% for first year only, payable monthly unless index closes below trigger on any trading day, in which case no coupon will be paid for that review date or any subsequent review date
|
| Price: | Par
|
| Payout at maturity: | 1.11111 times the sum of the index return and 10%
|
| Call: | Automatically at par plus final contingent coupon on Oct. 24, 2023 if index has never closed below 90% of initial level on any trading day during coupon observation period
|
| Initial index level: | 6,759.27
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| Trigger level: | 6,083.343; 90% of initial level
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| Pricing date: | Oct. 21
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| Settlement date: | Oct. 26
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48133NZB7
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