By Sarah Lizee
Olympia, Wash., Dec. 6 – JPMorgan Chase Financial Co. LLC priced $688,000 of 0% step-up review notes due Dec. 2, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 14.7% if the ETF closes at or above its initial level on any annual review date.
If the notes are not called, the payout at maturity will be par unless the ETF finishes below its 70% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Step-up review notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $688,000
|
| Maturity: | Dec. 2, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below trigger, in which case 1% loss for each 1% decline
|
| Call: | At par plus 14.7% annualized if ETF closes at or above initial level on an annual review date
|
| Initial level: | $33.06
|
| Trigger level: | $23.142, 70% of initial level
|
| Pricing date: | Nov. 28
|
| Settlement date: | Dec. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48130WDL2
|
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