By Angela McDaniels
Tacoma, Wash., Nov. 22 – JPMorgan Chase Financial Co. LLC priced $6.3 million of callable contingent interest notes due Nov. 25, 2020 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Every six months, the notes pay a contingent coupon at an annual rate of 5% if each index closes at or above its trigger value, 50% of its initial level, on the review date for during that semiannual period.
The notes are callable at par on any interest payment date other than the final interest payment date.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its trigger value, in which case investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $6,296,000
|
| Maturity: | Nov. 25, 2020
|
| Contingent coupon: | 5% per year, payable semiannually if each index closes at or above trigger value on review date for that semiannual period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger value, in which case full exposure to decline of lesser-performing index
|
| Call: | Callable at par on any interest payment date other than final one
|
| Initial index levels: | 2,181.90 for S&P 500 and 1,315.642 for Russell 2000
|
| Trigger values: | 1,090.95 for S&P 500 and 657.821 for Russell 2000; 50% of initial levels
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.4%
|
| Cusip: | 46646E2Z4
|
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