By Susanna Moon
Chicago, June 24 – JPMorgan Chase Financial Co. LLC priced $25 million of 0% review notes due July 12, 2021 linked to the least 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 are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 11.7% if each index closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.
The notes will be called at par plus a call premium of 9.5% per year if each index closes above its initial level on any annual call review date. On the final review date, the notes will be called at par plus 47.5% if the index closes at or above the 60% barrier level.
If the notes are not called, the payout at maturity will be par plus the return with full exposure 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: | Review notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $25 million
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| Maturity: | July 12, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus return, with full exposure to any losses of worse performing index if notes are not called
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| Call: | At par plus 9.5% if each index closes at or above its initial level on any annual review date other than the final date; on final review date, at par plus 47.5% if the index closes at or above the 60% barrier level
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| Initial levels: | 2,085.45 for S&P, 1,148.971 for Russell
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| Pricing date: | June 22
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| Settlement date: | June 27
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 46646EKH4
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