Chicago, March 29 – JPMorgan Chase Financial Co. LLC priced $4.75 million of autocallable contingent interest notes due March 14, 2024 linked to the lesser 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.
Each quarter, the notes will pay a contingent coupon at the rate of 21% per year if each ETF closes at or above its strike level on the review date for that period. Previously unpaid coupons will also be paid.
Additionally, the notes will be automatically called at par plus any contingent coupon if each ETF closes at or above their strike levels on any quarterly review date after one year.
If the notes have not been called, the payout at maturity will be par plus any coupons due unless any ETF finishes below its strike level, in which case investors will lose 1% for every 1% that the least-performing ETF finishes below its initial share price.
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 ETFs: | VanEck Vectors Gold Miners ETF and VanEck Vectors Junior Gold Miners ETF,
|
| Amount: | $4,750,000
|
| Maturity: | March 14, 2024
|
| Coupon: | 21% per year, payable quarterly if each ETF closes at or above strike level on review date for that period; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupons due unless any ETF finishes below strike level, in which case 1% loss for every 1% that least-performing ETF finishes below initial share price
|
| Call: | Automatically at par plus contingent coupons if each ETF closes at or above strike level on any quarterly review date after one year
|
| Strike levels: | $32.43 for VanEck Vectors Gold Miners, $46.42 for VanEck Vectors Junior Gold Miners
|
| Strike date: | March 10
|
| Pricing date: | March 11
|
| Settlement date: | March 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132TFB7
|
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