By Marisa Wong
Madison, Wis., June 30 – JPMorgan Chase & Co. priced $685,000 of callable contingent interest notes due July 2, 2021 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.5% if each index closes at or above its barrier level, 60% of its initial level, on the review date for that quarter.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to the decline of the lesser-performing index.
The notes are callable at par on any interest payment date other than the final date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $685,000
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| Maturity: | July 2, 2021
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| Coupon: | 6.5% per year, payable each quarter that each underlying index closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either index finishes below trigger level, in which case full exposure to decline of lesser-performing index
|
| Call option: | At par plus contingent coupon on any interest payment date other than the final date
|
| Initial levels: | 2,102.31 for S&P 500 and 1,283.281 for Russell 2000
|
| Barrier/trigger levels: | 1,261.386 for S&P 500 and 769.9686 for Russell 2000; 60% of initial levels
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| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48125UWX6
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