By Sarah Lizee
Olympia, Wash., April 29 – JPMorgan Chase Financial Co. LLC sold $1.3 million of 13.65% autocallable yield notes due July 29, 2021 linked to the worse 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.
Interest will payable quarterly.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par unless either index finishes below its initial level and either index closes below its trigger level, 75% of its initial level, on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $1,302,000
|
| Maturity: | July 29, 2021
|
| Coupon: | 13.65%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its initial level and either index closes below its trigger level on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | At par if each index closes at or above the initial level on any quarterly review date other than the final one
|
| Initial levels: | 1,233.053 for Russell and 2,836.74 for S&P
|
| Trigger levels: | 924.78975 for Russell and 2,127.555 for S&P, 75% of initial levels
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132KWL5
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