By Tali Rackner
Norfolk, Va., Jan. 28 – JPMorgan Chase & Co. priced $1.33 million of callable contingent interest notes due Jan. 29, 2019 linked to the lesser performing of the 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 semiannual interest rate of 8.5% annualized if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes may be called at par plus the contingent coupon on any interest payment date other than the final date.
The payout at maturity will be par unless either index closes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
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 indexes: | S&P 500 and Russell 2000
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| Amount: | $1,325,000
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| Maturity: | Jan. 29, 2019
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| Coupon: | 8.5% annually, payable semiannually if each index closes at or above interest barrier on each review date
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| Price: | Par
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| Payout at maturity: | Par unless either index closes below trigger, in which case full exposure to decline of lesser-performing index
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| Call: | Callable at par plus contingent coupon on any interest payment date other than final date
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| Initial share prices: | 1,877.08 for S&P 500 and 997.373 for Russell 2000
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| Interest/trigger barriers: | 1,313.956 for S&P 500 and 698.1611 for Russell 2000; 70% of initial share prices
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| Pricing date: | Jan. 25
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| Settlement date: | Feb. 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.1%
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| Cusip: | 48128GKU3
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