By Sarah Lizee
Olympia, Wash., April 22 – JPMorgan Chase Financial Co. LLC priced $2.4 million of autocallable contingent interest notes due April 22, 2021 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at the rate of 6.45% per year if each index closes at or above its trigger value, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date starting Oct. 17.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its trigger value, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $2.4 million
|
| Maturity: | April 22, 2021
|
| Coupon: | 6.45% per year, payable monthly if each index closes at or above trigger value on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger value, in which 1% loss for every 1% that lesser-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date starting Oct. 17
|
| Initial levels: | 1,567.597 for Russell and 2,900.45 for S&P 500
|
| Trigger values: | 1,097.3179 for Russell and 2,030.315 for S&P 500, or 70% of initial levels
|
| Pricing date: | April 17
|
| Settlement date: | April 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.95%
|
| Cusip: | 48132CBQ5
|
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