By Kiku Steinfeld
Chicago, Aug. 9 – JPMorgan Chase Financial Co. LLC priced $631,000 of 0% review notes due July 19, 2024 linked to the VanEck Vectors Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 7.25% per year if the fund closes at or above its initial value on any quarterly call date after six months.
If the notes are not called and the final share price is greater than or equal to the barrier level, 70% of the initial value, then the payout will at maturity will be par. If the final share price is less than the barrier level, investors will lose 1% for each 1% that the fund declines.
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: | Review notes
|
| Underlying fund: | VanEck Vectors Semiconductor ETF
|
| Amount: | $631,000
|
| Maturity: | July 19, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to barrier level, par; otherwise, 1% loss for each 1% that fund declines
|
| Call: | Automatically at par plus call premium of 7.25% per year if fund closes at or above initial value on any quarterly call date after six months
|
| Initial value: | $246.85
|
| Barrier level: | $172.795, 70% of initial value
|
| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.95%
|
| Cusip: | 48132U3A9
|
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