By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – JPMorgan Chase Financial Co. LLC priced $1.1 million of autocallable contingent interest notes due March 20, 2023 linked to the shares of VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a monthly contingent interest payment at an annual rate of 8% if the ETF closes above its 70% coupon barrier level on the relevant review date.
If the ETF closes above its initial level on any monthly review date other than the first, second and final ones, the notes will be automatically called at par plus the contingent interest payment.
The payout at maturity will be par plus the final contingent interest payment, if any, if the final level of the ETF closes at or above its initial level or the ETF has never closed below its trigger price, 70% of its initial price.
Otherwise, investors will be fully exposed to the decline of the ETF.
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 notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1,095,000
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| Maturity: | March 20, 2023
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| Coupon: | 8% annual rate, payable monthly if ETF closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus interest payment if ETF finishes above initial level or never closes below trigger price; otherwise, full exposure to losses of ETF
|
| Call: | At par plus interest payment if ETF finishes above initial level on monthly review date other than the first, second and final ones
|
| Initial price: | $37.59
|
| Coupon barrier level: | $26.313; 70% of initial price
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| Trigger level: | $26.313; 70% of initial price
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| Pricing date: | June 15
|
| Settlement date: | June 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.125%
|
| Cusip: | 48132UHM8
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