By Marisa Wong
Morgantown, W.Va., May 3 – JPMorgan Chase Financial Co. LLC priced $672,000 of 0% review notes due April 29, 2021 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.
The notes will be called at par plus a call premium of 9.25% a year if each index closes at or above its initial level on any annual call date.
If the notes are not called and the final level of each index is greater than or equal to its trigger value, 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% that the lesser-performing index finishes below its initial level.
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: | Review notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $672,000
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Maturity: | April 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either index finishes below 70% trigger level, in which case 1% loss per 1% decline of worse performing index
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Call: | At par plus a call premium of 9.25% per year if each index closes at or above its initial level on any annual call date
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Initial levels: | 2,374.15 for the S&P and 1,397.942 for Russell
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Trigger levels: | 1,661.905 for S&P and 978.5594 for Russell; 70% of initial levels
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Pricing date: | April 24
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Settlement date: | April 27
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 46646Q6U4
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