By Wendy Van Sickle
Columbus, Ohio, March 8 – JPMorgan Chase Financial Co. LLC priced $2.73 million of autocallable contingent interest notes due Feb. 25, 2022 linked to the lesser 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 pay a contingent quarterly coupon at an annual rate of 13% if each index closes at or above its interest barrier level, 92% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date.
The payout at maturity will be par plus the final coupon unless any index finishes below its 92% buffer value, in which case investors will lose 1% for each 1% that the worst performer declines beyond 8%.
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 index and S&P 500 index
|
| Amount: | $2.73 million
|
| Maturity: | Feb. 25, 2022
|
| Coupon: | 13% annualized, payable quarterly if each index closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any index finishes below buffer level, in which case 1% loss for each 1% decline of least performing index beyond 8%
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date
|
| Initial levels: | 3,906.71 for S&P and 2,266.689 for Russell
|
| Interest barriers/buffer levels: | 3,594.1732 for S&P and 2,085.35388 Russell; 92% of initial levels
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.6%
|
| Cusip: | 48132R3E8
|
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