By William Gullotti
Buffalo, N.Y., Dec. 6 – JPMorgan Chase Financial Co. LLC priced $399,000 of autocallable contingent interest notes due May 18, 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 7% per annum if the ETF closes at or above its 70% 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, second and final review dates.
If the notes have not been called, the payout at maturity will be par unless the ETF closes below its 70% barrier value during the life of the notes and the ETF finishes below its initial level, in which case investors will lose 1% for every 1% that the ETF finishes below its initial level.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
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| Amount: | $399,000
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| Maturity: | May 18, 2023
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| Contingent coupon: | 7% annualized, payable monthly if the ETF closes at or above the coupon barrier level on the determination date for that period
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| Price: | Par
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| Payout at maturity: | Par unless the ETF closes below its 70% barrier value during the life of the notes and the ETF finishes below its initial level, in which case investors will lose 1% for every 1% that the ETF finishes below its initial level
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| Call: | Automatically at par plus coupon if the ETF closes at or above initial share price on any monthly call observation date other than the first, second and final ones
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| Initial share price: | $32.82
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| Coupon barrier: | $22.974; 70% of initial share price
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| Barrier level: | $22.974; 70% of initial share price
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| Pricing date: | Aug. 13
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| Settlement date: | Aug. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.125%
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| Cusip: | 48132UV59
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