Chicago, Dec. 10 – JPMorgan Chase Financial Co. LLC priced $561,000 of autocallable contingent interest notes due Oct. 5, 2022 linked to the ARK Innovation 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 16.5% per annum if the ETF closes at or above its 65% 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 other than the first, second and final review dates.
The payout at maturity will be par plus the final coupon unless the ETF finishes below 65% 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
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| Underlying ETF: | ARK Innovation ETF
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| Amount: | $561,000
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| Maturity: | Oct. 5, 2022
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| Contingent coupon: | 16.5% 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 plus final coupon unless the ETF finishes below trigger level, in which case investors will lose 1% for each 1% decline of the ETF
|
| Call: | Automatically at par plus coupon if the ETF closes at or above initial share price on any monthly call observation date other than the first, second and final review dates
|
| Initial share price: | $119.95
|
| Coupon barrier: | $77.9675; 65% of initial share price
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| Barrier level: | $77.9675; 65% of initial share price
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| Pricing date: | March 31
|
| Settlement date: | April 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.15%
|
| Cusip: | 48132TLC8
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