By Wendy Van Sickle
Columbus, Ohio, July 13 – JPMorgan Chase Financial Co. LLC priced $1.3 million of callable contingent interest notes due July 11, 2024 linked to the common ETF of VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.25% if the ETF closes at or above its 65% coupon barrier on the review date for that month.
The notes will be callable at par on any review date other than the final date.
The payout at maturity will be par unless the ETF finishes below its 50% trigger level, in which case investors will be fully exposed to the ETF’s losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Callable contingent interest notes
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Underlying ETF: | VanEck Vectors Oil Services ETF
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Amount: | $1.3 million
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Maturity: | July 11, 2024
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Coupon: | 9.25% annualized, payable monthly if ETF closes at or above coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par unless the ETF finishes below its trigger level, in which case investors will be fully exposed to the ETF’s losses
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Call option: | At par plus contingent coupon on any review date other than final date
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Initial level: | $207.88
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Coupon barrier level: | $135.22, 65% of initial level
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Trigger level: | $103.94, 50% of initial level
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Pricing date: | July 8
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Settlement date: | July 13
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 48132U2D4
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