By Kiku Steinfeld
Chicago, Dec. 23 – JPMorgan Chase Financial Co. LLC priced $1.7 million of autocallable contingent interest notes due June 16, 2022 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if the fund closes at or above the trigger level, 70% of the initial share price, on the review date for that month.
The notes will be called at par plus the contingent coupon if the fund closes at or above the initial share price on any monthly review date other than the first, second and final review dates.
If the notes have not been called and the fund finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to the fund’s losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1,702,000
|
| Maturity: | June 16, 2022
|
| Coupon: | 8%, payable if fund closes at or above trigger level on monthly review date
|
| Price: | Par of $1,000
|
| Payout at maturity: | If fund finishes at or above trigger level, par plus contingent coupon; otherwise, investors will be fully exposed to fund’s losses
|
| Call: | At par plus contingent coupon if fund closes at or above initial share price on any monthly review date other than first, second and final review dates
|
| Initial share price: | $35.08
|
| Trigger price: | $24.556, 70% of initial share price
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.03856%
|
| Cusip: | 48132PD76
|
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