By Wendy Van Sickle
Columbus, Ohio, April 19 – JPMorgan Chase Financial Co. LLC priced $7.83 million of trigger autocallable contingent yield notes due April 18, 2024 linked to the iShares Russell 2000 Value ETF and SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 8.38% per year if each ETF closes at or above the coupon barrier, 70% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par of $10 if each ETF closes at or above the initial level on any quarterly observation date after six months.
If the notes are not called and the final level is greater than or equal to the downside threshold level, 70% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETFs: | iShares Russell 2000 Value ETF and SPDR S&P MidCap 400 ETF Trust
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| Amount: | $7,826,270
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| Maturity: | April 18, 2024
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| Contingent coupon: | 8.38% annual rate, payable quarterly if each ETF closes at or above coupon barrier level on related quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless ETF finishes below downside threshold level, in which case 1% loss for each 1% decline from initial price
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| Call: | Automatically at par if ETF closes at or above initial level on any quarterly observation date after six months
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| Initial price: | $161.33 for Russell, $488.78 for MidCap
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| Coupon barrier: | $112.93 for Russell, $342.15 for MidCap, 70% of initial price
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| Threshold level | $112.93 for Russell, $342.15 for MidCap, 70% of initial price
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| Pricing date: | April 14
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| Settlement date: | April 19
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48132V390
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