By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – JPMorgan Chase Financial Co. LLC priced $4.56 million of buffered callable range accrual notes due Jan. 29, 2027 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 4.8% 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.
The notes will be callable at par on any monthly interest payment date after one year.
If the notes are not called and 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%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Buffered callable range accrual notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $4,562,000
|
| Maturity: | Jan. 29, 2027
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| Coupon: | 4.8% annualized for each day index closes at or above 85% threshold; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if index finishes at or above buffer level; otherwise, 1% loss for every 1% decline beyond 15%
|
| Call option: | At par on any interest payment date after one year
|
| Initial level: | 1,976.464
|
| Accrual threshold: | 1,679.9944, 85% of initial level
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| Buffer level: | 1,679.9944, 85% of initial level
|
| Pricing date: | Jan. 26
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| Settlement date: | Jan. 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.5%
|
| Cusip: | 48130UZS7
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