By Kiku Steinfeld
Chicago, June 14 – JPMorgan Chase Financial Co. LLC priced $547,000 of autocallable contingent interest notes due Aug. 23, 2022 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 9.3% if the fund closes at or above its 75% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any quarterly review date other than the final review date.
The payout at maturity will be par unless the fund closes below its 75% barrier level during the life of the notes and finishes below its initial level, in which case investors will be exposed to the fund’s decline from its initial level.
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 fund: | VanEck Vectors Gold Miners ETF
|
| Amount: | $547,000
|
| Maturity: | Aug. 23, 2022
|
| Coupon: | 9.3% annualized, payable quarterly if fund closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the fund closes below its barrier level during the life of the notes and finishes below its initial level, in which case investors will be exposed to the fund’s decline from its initial level
|
| Call: | At par plus contingent coupon if fund closes at or above initial level on any quarterly review date other than final one
|
| Initial level: | $39.63
|
| Coupon barrier level: | $29.7225, 75% of initial level
|
| Barrier level: | $29.7225, 75% of initial level
|
| Pricing date: | May 18
|
| Settlement date: | May 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132TY42
|
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