By William Gullotti
Buffalo, N.Y., Feb. 7 – JPMorgan Chase Financial Co. LLC priced $1.13 million of autocallable contingent interest notes due Jan. 20, 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 after three months.
The payout at maturity will be par unless the ETF finishes below 70% of its initial share price, in which case investors will be fully exposed to the losses of the fund.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1,126,000
|
| Maturity: | Jan. 20, 2023
|
| Contingent coupon: | 7% 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 unless the ETF finishes below 70% of its initial share price, in which case full exposure to losses of fund
|
| Call: | Automatically at par if the ETF closes at or above the initial level on any monthly call observation date after three months
|
| Initial share price: | $35.71
|
| Coupon barrier: | $24.997, 70% of initial share price
|
| Buffer level: | $24.997, 70% of initial share price
|
| Pricing date: | April 15
|
| Settlement date: | April 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.125%
|
| Cusip: | 48132TRB4
|
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