By Sarah Lizee
Olympia, Wash., June 4 – JPMorgan Chase Financial Co. LLC priced $2.5 million of buffered contingent interest notes due June 3, 2022 linked to the Utilities Select Sector SPDR fund, 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 coupon on any annual review date that the ETF closes above its interest barrier, 80% of the initial level. The contingent coupon rate is 1% per year.
If the fund finishes above 20% of its initial level, the payout at maturity will be par plus 9.6%.
Otherwise, investors will lose 1.25% for every 1% decline of the fund beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Buffered contingent interest notes
|
| Underlying ETF: | Utilities Select Sector SPDR fund
|
| Amount: | $2.5 million
|
| Maturity: | June 3, 2022
|
| Coupon: | Notes will pay a contingent coupon on any annual review date that the ETF closes above its interest barrier; contingent coupon rate is 1% per year
|
| Price: | Par
|
| Payout at maturity: | If the fund finishes above 20% of its initial level, par plus 9.6%; otherwise, investors will lose 1.25% for every 1% decline of the fund beyond 20%
|
| Initial price: | $58.07
|
| Interest barrier: | $46.456; 80% of the initial level
|
| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48132CRK1
|
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