By William Gullotti
Buffalo, N.Y., Sept. 9 – JPMorgan Chase Financial Co. LLC priced $1.29 million of autocallable contingent interest notes due May 15, 2023 linked to the 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 will pay a contingent monthly coupon of 3.65% per annum if the ETF closes at or above its 75% coupon barrier level on the determination date for that period.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial share price on any monthly call observation date other than the first through fifth and final review dates.
The payout at maturity will be par plus the final coupon unless the ETF finishes below 75% of its initial share price, in which case investors will lose 1% for every 1% of ETF decline below 25%.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1,285,000
|
| Maturity: | May 15, 2023
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| Contingent coupon: | 3.65% annualized, payable monthly if the ETF closes at or above the coupon barrier level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless the ETF finishes below 75% of its initial share price, in which case investors will be exposed to the ETF’s decline below the buffer
|
| Call: | Automatically at par plus coupon if the ETF closes at or above initial level on any monthly call observation date other than the first through fifth and final ones
|
| Initial share price: | $32.02
|
| Coupon barrier: | $24.015, 75% of initial share price
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| Buffer level: | $24.015, 75% of initial share price
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| Pricing date: | Aug. 10
|
| Settlement date: | Aug. 13
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.6%
|
| Cusip: | 48132UW82
|
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