By Wendy Van Sickle
Columbus, Ohio, Aug. 3 – JPMorgan Chase Financial Co. LLC priced $1.72 million of autocallable contingent interest notes due Aug. 1, 2028 linked to the MerQube US Large-Cap Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 11% per year if the index closes at or above the interest barrier, 60% of the initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly autocall review date after six months.
If the notes have not been called, the payout at maturity will be par unless the index finishes below its trigger value, 50% of the initial level, in which case investors will lose 1% for every 1% that the index finishes below its initial level.
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 index: | MerQube US Large-Cap Vol Advantage index
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| Amount: | $1,723,000
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| Maturity: | Aug. 1, 2028
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| Coupon: | 11% per year, payable monthly if index closes at or above interest barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless index finishes below trigger value, in which case 1% loss for every 1% that index finishes below initial level
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| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any monthly review date other than first through fifth and final ones
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| Initial level: | 2,870.66
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| Interest barrier: | 1,722.396, or 60% of initial level
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| Trigger value: | 1,435.33, or 50% of initial level
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| Pricing date: | July 27
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| Settlement date: | July 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 5%
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| Cusip: | 48133YJV7
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