New York, Feb. 27 – JPMorgan Chase Financial Co. LLC priced $386,000 of autocallable contingent notes due July 21, 2025 linked to the worst performing of the ARK Innovation ETF and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.3% paid monthly if the worst performing ETF closes at or above its 50% coupon barrier on the related valuation date.
The securities will be called at par if each ETF closes at or above its initial share price on any monthly review date starting April 16, 2024.
If the worst performing ETF finishes at or above its 50% final barrier, the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing ETF declines.
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 ETFs: | ARK Innovation ETF and VanEck Gold Miners ETF
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| Amount: | $386,000
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| Maturity: | July 21, 2025
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| Coupon: | 13.3% annual rate, paid monthly if the worst performing ETF closes at or above its 50% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above final barrier, par; 1% loss for every 1% that worst performing ETF declines if it ends below final barrier
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| Call: | Automatically at par if each ETF closes at or above initial share price on any monthly review date starting April 19, 2024
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| Initial share prices: | $46.76 for ARK, $28.39 for VanEck
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| Coupon barriers: | $23.38 for ARK, $14.195 for VanEck 50% of initial levels
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| Final barrier levels: | $23.38 for ARK, $14.195 for VanEck 50% of initial levels
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| Pricing date: | Jan. 16, 2024
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| Settlement date: | Jan. 19, 2024
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48134TQV9
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