By Wendy Van Sickle
Columbus, Ohio, July 1 – JPMorgan Chase Financial Co. LLC priced $249,000 of callable contingent interest notes due May 24, 2024 linked to the least performing of the iShares MSCI Emerging Markets ETF and the 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 biannual coupon at an annual rate of 6% if each asset closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes are callable at par on any biannual review date.
The payout at maturity will be par unless any asset finishes below its 70% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying Assets: | iShares MSCI Emerging Markets ETF and Russell 2000 index
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| Amount: | $249,000
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| Maturity: | May 24, 2024
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| Coupon: | 6% annualized, payable biannually if each asset closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below trigger level, in which case 1% loss for each 1% decline of least performing asset from initial level
|
| Call option: | At par on any biannual review date
|
| Initial levels: | $53.14 for iShares and 2,215.268 for Russell
|
| Interest barrier: | $37.198 for iShares and 1,550.6876 for Russell, 70% of initial values
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| Trigger levels: | $37.198 for iShares and 1,550.6876 for Russell, 70% of initial values
|
| Pricing date: | May 21
|
| Settlement date: | May 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132T5E2
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