By Wendy Van Sickle
Columbus, Ohio, May 3 – JPMorgan Chase Financial Co. LLC priced $17 million of buffered callable range accrual notes due April 30, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The interest rate is 4.75% per year multiplied by the proportion of days on which the index's closing level is greater than or equal to 85% of the initial index level. Interest is payable monthly.
If the index return is greater than or equal to negative 15%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
Beginning May 31, 2022, the notes will be callable at par on any interest payment date.
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: | Buffered callable range accrual notes
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| Underlying index: | Russell 2000
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| Amount: | $17 million
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| Maturity: | April 30, 2026
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| Coupon: | 4.75% annualized for each day index closes at or above 85% barrier; payable monthly
|
| Price: | Par of $1,000
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| Payout at maturity: | Par if index finishes at or above buffer level; otherwise, 1% loss for every 1% decline beyond 15%
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| Call option: | At par on any interest payment date beginning May 31, 2022
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| Initial level: | 2,301.267
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| Buffer level: | 1,956.07695, 85% of initial level
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48130UVT9
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