By Susanna Moon
Chicago, Sept. 1 – JPMorgan Chase & Co. priced $1.5 million of callable contingent interest notes due Aug. 30, 2019 linked to the worst performing of S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.2% if each component closes at or above its coupon barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be callable at par plus the contingent coupon on any interest payment date other than the first, second, third and final dates.
The payout at maturity will be par unless any component finishes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.
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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| Underlyings: | S&P 500 index, Russell 2000 index
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| Amount: | $1.5 million
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| Maturity: | Aug. 30, 2019
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| Coupon: | 8.2% annualized, payable quarterly if each underlying component closes at or above coupon barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any component finishes below trigger level, in which case full exposure to any losses of worst performing component
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| Call option: | At par plus contingent coupon on any interest payment date other than the first, second, third and final dates
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| Initial levels: | 1,940.51 for S&P, 1,132.188 for Russell
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| Barrier levels: | 70% of initial levels
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.85%
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| Cusip: | 48125UU67
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