By Susanna Moon
Chicago, Sept. 30 – JPMorgan Chase Financial Co. LLC priced $1.29 million of callable contingent interest notes due Oct. 4, 2021 linked to least performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filed 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 7% if each index closes at or above its coupon barrier level, 65% of its initial level, on the review date for that quarter.
The notes will be callable at par plus the contingent coupon on any review 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 Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlyings: | Dow Jones industrial average and Russell 2000
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| Amount: | $1,287,000
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| Maturity: | Oct. 4, 2021
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| Coupon: | 7% annualized, payable quarterly if each index closes at or above 65% barrier on review date for quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to any losses of the worse performing index
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| Call option: | At par plus contingent coupon on any review date other than first and final dates
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| Initial levels: | 18,228.30 for Dow, 1,246.381 for Russell
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| Trigger levels: | 11,848.395 for Dow, 810.14765 for Russell; 65% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 46646EZK1
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