By Wendy Van Sickle
Columbus, Ohio, May 10 – JPMorgan Chase Financial Co. LLC priced $3.5 million of autocallable contingent interest notes due Nov. 14, 2019 linked to the lesser performing of the S&P 500 index 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 month, the notes will pay a contingent coupon at the rate of 6.096%per year if each index closes at or above its trigger level, 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 monthly review date.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its buffer threshold, in which case investors will lose 1% for every 1% that the lesser-performing index declines.
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: | Autocallable contingent interest notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $3.5 million
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| Maturity: | Nov. 14, 2019
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| Coupon: | 6.096% per year, payable monthly if each index closes at or above trigger level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case 1% loss for every 1% that lesser-performing index declines from initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date
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| Initial levels: | 2,879.42 for S&P 500 and 1,574.975 for Russell
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| Trigger levels: | 2,022.125 for S&P 500 and 1,106.602 for Russell, or 70% of initial levels
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| Pricing date: | May 8
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| Settlement date: | May 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48132CME0
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