By Susanna Moon
Chicago, Oct. 28 – JPMorgan Chase Financial Co. LLC priced $580,000 of callable contingent interest notes due Nov. 2, 2021 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its coupon barrier level, 65% of its initial level, on the review date for that quarter.
The notes will be callable at par plus the contingent coupon on any interest payment date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
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: | Callable contingent interest notes
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| Underlying indexes: | Dow Jones industrial average and Russell 2000
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| Amount: | $580,000
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| Maturity: | Nov. 2, 2021
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| Coupon: | 7% annualized, payable quarterly if each index closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Call option: | At par plus contingent coupon on any interest payment date other than first and final dates
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to any losses of worse performing index
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| Initial levels: | 18,199.33 for Dow and 1,204.749 for Russell
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| Trigger levels: | 11,829.5645 for Dow and 783.08685 for Russell; 65% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.7346%
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| Cusip: | 46646EQ96
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