By Robert S. Johnson
Princeton, N.J., April 8 – JPMorgan Chase Financial Co. LLC priced $1.68 million of autocallable contingent interest notes due March 31, 2022 linked to the lesser performing of the S&P 500 index and 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 pay a contingent quarterly coupon at an annual rate of 6%, if each index closes at or above its 70% coupon barrier on the related quarterly review date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first three and final review dates.
The payout at maturity will be par plus the coupon unless either index finishes below 70% of its initial level, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $1,684,000
|
| Maturity: | March 31, 2022
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| Coupon: | 6%, payable each quarter that both indexes closes at or above their coupon barriers on the related quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless either index finishes below 70% of its initial level in which case investors will be fully exposed to any losses of the worst performing index
|
| Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first three and final dates
|
| Initial levels: | 1,539.739for Russell and 2,834.40 for S&P
|
| Coupon barriers: | 1,077.8173 for Russell and 1,984.08 for S&P; 70% of initial levels
|
| Trigger levels: | 1,077.8173 for Russell and 1,984.08 for S&P; 70% of initial levels
|
| Pricing date: | March 29
|
| Settlement date: | April 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.6943%
|
| Cusip: | 48130W4Y4
|
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