New York, July 7 – JPMorgan Chase & Co. priced $450,000 of callable contingent interest notes due July 7, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 7.5% if the Russell 2000 closes at or above its barrier level, 70% of its initial level, on the review date for that month.
The payout at maturity will be par unless the index finishes below its 70% trigger level, in which case investors will be fully exposed to any decline in the index.
The notes are callable at par on any interest payment date other than the first 11.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying index: | Russell 2000
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| Amount: | $450,000
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| Maturity: | July 7, 2025
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| Coupon: | 7.5% per year, payable each month that the underlying index closes at or above the barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless the index finishes below the trigger level, in which case full exposure to the index’s decline
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| Call option: | At par plus contingent coupon on any interest payment date other than the first 11
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| Initial level: | 1,256.397
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| Barrier/trigger levels: | 879.4779, 70% of initial level
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| Pricing date: | July 1
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| Settlement date: | July 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4.2%
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| Cusip: | 48125UXL1
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