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JPMorgan intends to sell review notes due 2022 tied to Russell, S&P
By Devika Patel
Knoxville, Tenn., Sept. 17 – JPMorgan Chase Financial Co. LLC plans to price 0% review notes due Oct. 14, 2022 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 will be guaranteed by JPMorgan Chase & Co.
The notes will be called annually at par plus a premium of at least 9.35% per year if each index closes at or above its initial level on any review date beginning on Oct. 8, 2019. The exact call premiums will be set at pricing.
If the notes are not called, the payout at maturity will be par plus 10% unless the worse performing index finishes below 70% of its initial level, in which case investors will lose 1% for each 1% that the lesser-performing index’s final level is less than its initial level.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48130UHV0) will price on Sept. 21 and settle on Sept. 28.
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