By Marisa Wong
Morgantown, W.Va., Aug. 30 – JPMorgan Chase Financial Co. LLC priced $3 million of callable contingent interest notes due Sept. 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.
Each quarter, the notes pay a contingent coupon at a rate of 7.25% per year if each index closes at or above its coupon barrier, 65% of its initial level, on the review date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date other than the first and final interest payment dates.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its 65% trigger value, in which case investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| 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: | $3,004,000
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| Maturity: | Sept. 2, 2021
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| Coupon: | 7.25%, payable each quarter that each index closes at or above its coupon barrier on the review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its | trigger value, in which case investors will be fully exposed to the decline of the lesser-performing index
|
| Call option: | At par plus the contingent coupon on any interest payment date other than the first and final interest payment dates
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| Initial levels: | 18,395.40 for Dow and 1,238.031 for Russell
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| Barrier/trigger levels: | 11,957.01 for Dow and 804.72015 for Russell
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 46646EUF7
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