By Susanna Moon
Chicago, April 21 – JPMorgan Chase & Co. priced $1 million of callable contingent interest accrual notes due April 25, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.45% if the index closes at or above the 70% trigger level on a review date for that quarter.
The notes will be called at par plus the coupon if the index closes at or above the initial level on any review date other than the first 11 dates and the final review date.
If the notes have not been called and the index finishes at or above the trigger level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest accrual notes
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| Underlying index: | Russell 2000
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| Amount: | $1 million
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| Maturity: | April 25, 2025
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| Coupon: | 7.45% per year, payable quarterly if index closes at or above trigger level that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless index finishes below trigger level, in which case investors fully exposed to any losses
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| Call: | At par plus contingent coupon if index closes at or above initial level on any review date other than the first 11 dates and final review date
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| Initial level: | 1,251.858
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| Barrier level: | 876.3006, 70% of initial level
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agent: | J.P. Morgan Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 4.2%
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| Cusip: | 48125UNT5
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