By Kiku Steinfeld
Chicago, Jan. 16 – JPMorgan Chase Financial Co. LLC priced $1.32 million of autocallable contingent interest notes due Jan. 12, 2023 linked to the lesser performing of the Energy Select Sector SPDR fund, the Technology Select Sector SPDR fund and the Consumer Discretionary Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6% if each fund closes at or above its trigger value, 60% of its initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each fund closes at or above its initial share price on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless any fund finishes below its trigger value, in which case investors will lose 1% for every 1% that the least performing fund finishes below its initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying funds: | Energy Select Sector SPDR fund, Technology Select Sector SPDR fund and Consumer Discretionary Select Sector SPDR fund
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| Amount: | $1,306,000
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| Maturity: | Jan. 12, 2023
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| Coupon: | 6% per year, payable quarterly if each fund closes at or above trigger value on review date that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any fund finishes below trigger value, in which case 1% loss for every 1% that least performing fund finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each fund closes at or above initial level on any review date either than first and final review dates
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| Initial index levels: | $60.71 for Energy, $92.52 for Technology and $125.98 for Consumer Discretionary
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| Trigger values: | $36.426 for Energy, $55.512 for Technology and $75.588 for Consumer Discretionary, 60% of initial levels
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| Pricing date: | Jan. 7
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| Settlement date: | Jan. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.85%
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| Cusip: | 48132HQZ8
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