By Wendy Van Sickle
Columbus, Ohio, July 13 – JPMorgan Chase Financial Co. LLC sold $860,000 of 0% autocallable buffered return enhanced notes due July 13, 2023 linked to the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus 11.75% if the ETF closes at or above its initial level on July 22, 2022.
The payout at maturity will be par plus 2 times any ETF gain.
Investors will receive par if the ETF falls by up to 20%. If the ETF falls by more than 20%, investors will be fully exposed to the ETF’s decline.
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: | Autocallable buffered return enhanced notes
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Underlying ETF: | SPDR S&P Bank
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Amount: | $860,000
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Maturity: | July 13, 2023
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Coupon: | 0%
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Price: | Par
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Call: | Par plus 11.75% if ETF closes at or above initial level on July 22, 2022
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Payout at maturity: | Par plus 2 times any ETF gain; par if ETF falls by up to 20%; otherwise, full exposure to ETF’s decline
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Initial ETF level: | $50.70
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Contingent buffer level: | 80% of initial level
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Pricing date: | July 9
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Settlement date: | July 14
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48132UZL0
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