New York, May 18 – JPMorgan Chase Financial Co. LLC priced $1.12 million of autocallable contingent interest notes due Nov. 16, 2023 linked to the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 24%, paid monthly, if the underlying fund closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically, starting Aug. 15, if the price of the underlying fund is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity, the payout will be par unless the ETF finishes below its 60% trigger level, in which case investors will be fully exposed to the decline of the ETF.
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: | Autocallable contingent interest notes
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Underlying ETF: | ARK Innovation ETF (Ticker: ARKK)
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Amount: | $1,119,000
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Maturity: | Nov. 16, 2023
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Coupon: | 24%, paid monthly, if the underlying fund closes at or above its 70% coupon barrier on the related monthly observation date
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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 decline in the ETF
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Call: | Automatically starting Aug. 15 if the price of the underlying fund is greater than or equal to its initial price and on any subsequent monthly review date
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Initial levels: | $43.60
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Trigger levels: | $26.16, 60% of initial level
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Coupon barrier: | $30.52, 70% of the initial level
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Pricing date: | May 13
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Settlement date: | May 18
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.07641%
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Cusip: | 48133F4M4
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