By Marisa Wong
Morgantown, W.Va., Jan. 29 – JPMorgan Chase & Co. priced $540,000 of callable contingent interest notes due Feb. 2, 2022 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.
Each quarter, the notes will pay a contingent coupon at a rate of 8.15% per year if each index closes at or above its interest barrier level, 65% of its initial level, on the review date for that quarter.
The notes may be called at par plus the contingent coupon on any interest payment date other than the first and final dates.
The payout at maturity will be par unless either index finishes below its 65% 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.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $540,000
|
| Maturity: | Feb. 2, 2022
|
| Coupon: | 8.15% per year, payable quarterly if each index closes at or above interest barrier on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger, in which case full exposure to decline of lesser-performing index
|
| Call: | Callable at par plus contingent coupon on any interest payment date other than first and final dates
|
| Initial levels: | 1,903.63 for S&P 500 and 1,017.974 for Russell 2000
|
| Interest/trigger barriers: | 1,237.3595 for S&P 500 and 661.6831 for Russell 2000; 65% of initial share prices
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48128GJV3
|
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