By Kiku Steinfeld
Chicago, Dec. 14 – JPMorgan Chase Financial Co. LLC priced $672,000 of autocallable contingent interest notes due May 26, 2023 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annual rate of 10.5% if the fund closes at or above its 70% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any monthly review date other than the first, second and final review dates.
The payout at maturity will be par unless the fund finishes below its initial level and ever closes below its 65% barrier 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
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| Underlying fund: | VanEck Vectors Gold Miners ETF
|
| Amount: | $672,000
|
| Maturity: | May 26, 2023
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| Coupon: | 10.5% annualized, payable monthly if fund closes at or above coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless the fund finishes below its initial level and ever closes below its barrier 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 monthly review date other than first, second and final review dates
|
| Initial level: | $32.50
|
| Coupon barrier level: | $22.75, 70% of initial level
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| Barrier level: | $21.125, 65% of initial level
|
| Pricing date: | Nov. 23
|
| Settlement date: | Nov. 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.725%
|
| Cusip: | 48132YYZ2
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