By Wendy Van Sickle
Columbus, Ohio, July 30 – JPMorgan Chase Financial Co. LLC priced $225,000 of step-up autocallable contingent buffered equity notes due July 27, 2023 linked to the least 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 are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus 6% a year if each index closes at or above its call level on any semiannual review date after one year. The call level will be 102% of the initial level on the first review date and will step up by 1% per review date.
The payout at maturity will be par plus any gain of the least performing index.
Investors will receive par if either index falls by up to 15% and will otherwise lose 1% for each 1% decline of the least performing index beyond 15%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Issue: | Step-up autocallable contingent buffered equity notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $225,000
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| Maturity: | July 27, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any gain of the lesser-performing index; par if either index falls by up to contingent buffer, otherwise 1% loss for each 1% decline of lesser-performing index beyond 15%
|
| Call: | Automatically at par plus 6% a year if each index closes at or above its call level on any semiannual review date after one year; call level will be 102% of the initial level on the first review date and will step up by 1% each subsequent review date
|
| Initial levels: | 3,215.63 for S&P, 1,467.555 for Russell
|
| Contingent buffer levels: | 85% of initial levels
|
| Pricing date: | July 24
|
| Settlement date: | July 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48132MUN9
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