By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – JPMorgan Chase Financial Co. LLC priced $194,000 of callable contingent interest notes due Aug. 3, 2020 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 are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent semiannual coupon at an annual rate of 6% if each index closes at or above its interest barrier level, 60% of its initial level, on the review date for that period.
The notes will be callable at par 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 60% 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 Financial Co. LLC
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| Guarantor: | 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: | $194,000
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| Maturity: | Aug. 3, 2020
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| Coupon: | 6% annualized, payable semiannually if each index closes at or above 60% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either index falls below trigger level, in which case full exposure to any losses of worse performing index
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| Call option: | At par on any interest payment date other than first and final dates
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| Initial levels: | 2,166.58 for S&P and 1,218.927 for Russell
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| Trigger levels: | 1,299.948 for S&P and 731.3562 for Russell; 60% of initial levels
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| Pricing date: | July 27
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| Settlement date: | Aug. 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 46646ELD2
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