By Susanna Moon
Chicago, Dec. 9 – JPMorgan Chase Financial Co. LLC priced $4 million of callable range accrual securities due May 31, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest will accrue at an annualized rate of 6.6% for each day that each index is at least 80% of its initial level, payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will be exposed to any losses beyond the buffer.
The notes are callable at par plus accrued interest on any quarterly redemption date after one year.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable range accrual notes
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| Underlying index: | Russell 2000 index
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| Amount: | $4 million
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| Maturity: | May 31, 2024
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| Coupon: | 6.6% for each day that each index is at least 80% of its initial level, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless index falls by more than 20%, in which case exposure to any losses beyond the buffer
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| Call option: | At par on any interest payment date beginning Nov. 30, 2017
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| Initial index level: | 1,329.828
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| Minimum level: | 1,063.8624, 80% of initial level
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| Pricing date: | Nov. 28
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| Settlement date: | Nov. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4%
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| Cusip: | 46646E5T5
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